The calculation of Pi to extreme accuracy involves mathematical series that converge to its value, such as the alternating series mentioned. While measuring Pi through circumference and diameter is limited by measurement precision, advanced algorithms allow for its computation to trillions of decimal places. The reference value of Pi is established through these precise calculations, although the reasoning behind certain series yielding Pi may not be immediately clear. The pursuit of calculating Pi to such high precision is often more about demonstrating computational power than practical necessity. Overall, the discussion highlights both the mathematical complexity and the motivations behind extreme calculations of Pi.