Having done and led some team building exercises, your facilitator is pretty key in this process.
If they can't pick up on the cues and help the group deal with them, they are not good at what they do.
That being said, it usually takes more than just a couple of hours to work out issues.
I have never worked anywhere that had anything more than the office Christmas party, but I have worked in some toxic environments and feel like it is at least better to try something like this than not. One of my kids started a new job during Covid and was work from home solely for months, so their Top Golf team building was the first time he even saw many of the people he works with.