I am reasonably sure they need (maybe _need_ here is too-strong a word) those permissions in order to perform certain operations on my calendar, but it just seems so scary to give another company that level of control over my Google account.
I do wish we had more granular permissions across a lot of services out there (e.g. Google, Slack, GitHub), because I can't be alone in not trying something that looks cool because it has the ability to wipe my account out.