Just what it says on the tin. Chat room feed settings are available only to moderators and room owners.
Here are the feed URLs, taken directly from the icons at the bottom of our main and meta homepages:
We're a pretty slow-moving site in relative terms and the chat rooms don't see much action so this wouldn't be disruptive to any existing activities. I'd see it as an incentive to spend time in the chat room, which is a plus for site activity. And perhaps most importantly, it makes meta questions more visible to users who are only actively looking for main site questions.