As @alemabrahao states devices will only consume as much as necessary for current operation but may state they request more.
However as far as overall allocation MS code handles that differently than the underlying IOS-XE on CS firmware. MS switches will happily provide power as long as the actual consumption is below the total available and allow the total requested to be over the max available. IOS-XE, however, budgets on the requested power which is different. An AP may request 60W but in most operations only use 20ish. MS looks at the 20W, IOS-XE looks at the 60. A 720W MS switch would allow 36 of those devices, an IOS-XE, 12.
The blue box on this page calls this out:
https://documentation.meraki.com/Switching/MS_-_Switches/Operate_and_Maintain/How-Tos/PoE_Support_on...
While there are some ways to deal with this in native mode (manual poe budgeting), Im not sure you can do that in Meraki managed mode. Support may be able to do something on the backend.
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