I hate it for four reasons. Since you asked...
They are pointless and don't change group dynamics. I love my team and colleagues, and socialise with them regularly, but I've also had teams I didn't like. In neither case does doing little games at work isn't going to make our bond stronger.
I hate enforced fun and pretend tasks. I especially hate the power dynamics of these days: the way that you have to fake enjoying yourself and select a work friendly version of yourself to maintain the whole time. These days are designed to break down your work persona, and to an extent succeed, in the sense that it's hard to pretend for 48 hours straight. The whole thing feels intrusive: I give my employer my work life, all of it. Why do they also demand my soul? Why do you want to force me into a weird test of seeing whether I can keep being this employee even on my downtime?
They make me feel infantalised. I'm not a child and I resent being treated like one. I don't want to do activities that someone else has decided are fun, I don't want to do activities that someone else has decided will improve my communication or whatever the fuck the focus is on that week.
They're exclusionary. I would hate you for taking me away from family on bank holiday. I do it and understand it's necessary to get actual work done , e.g. meeting clients abroad, conferences, and so on. I resent the hell out of having to do it for no good reason. Think of anyone who has caring responsibilities, elderly parents, a disability, anything.
The only exception is once when I worked for a company where everyone was WFH or in different centres across the country, then it was quite nice twice a year to meet and see everyone in real life. If you see colleagues every week then absolutely no way.