Why not just to the one where the branch circuits all connect (if different from where the meter is)?

What happens when that one wire opens? A bad neutral is a very common fault. Then you have no place for a fault current to go. RIP!.

Its even worse, if that one wire opens disconnecting the machine from the neutral/ground, the case of the machine can become electrically live because current will flow through the load to the ground/neutral.

Anyone touching the case could be shocked.

m