Multi Meter and Panel “Debate”

Question: Service drop cable comes into the Junction box before branching off to 3 separate Meters, is that junction required by code or did they do it to not have to buy a new multi meter unit? That being said Each Meter has its Own Panel with their own circuits. Meaning each panel is the first means of disconnect for each floor. Each one has to have N and G bonded correct? I personally do not think they are “sub panels” my Jman is confusing

Question: Service drop cable comes into the Junction box before branching off to 3 separate Meters, is that junction required by code or did they do it to not have to buy a new multi meter unit? That being said Each Meter has its Own Panel with their own circuits. Meaning each panel is the first means of disconnect for each floor. Each one has to have N and G bonded correct? I personally do not think they are “sub panels” my Jman is confusing