Corn meal is not actually the best fertilizer available. It contains relatively low amounts of the nitrogen, phosphorus and potassium necessary to feed grass. A far smaller amount of a more potent fertilizer, such as soybean meal, would provide the same level of nutrition.
Corn meal does have certain uses in gardening. In particular, it helps to feed worms and is beneficial bacteria and fungi, which in turn help to condition and fertilize your soil indirectly. It also reduces the amount of malignant fungi in the area and functions as either a preventative or a curative application. However, with serious fungi outbreaks, chemicals controls need to be applied, after which corn meal can be applied to help prevent future issues.