Hmm. I'm actually struggling to think of a situation where it would be the done thing to call one of your colleagues "princess", be they male or female.
Professionalism is what allows you to work together despite being very different people with different interests and personalities.
Fun workplaces tend to discriminate against those who are different on personal level regardless of their actual skills and contributions.
It's not, but when it takes up the majority of your waking life at ~60-80hrs/wk, it's not an unreasonable expectation, especially for the mental well-being of the workers. And so long as the trend continues towards longer work hours, there really doesn't seem to be much of a humane way to deal with that added stress otherwise, despite all the obvious drawbacks you mentioned.
The ideal of course, would be to shorten the workday. Unfortunately, inertia seems to be working very much against that possible solution.
Yes, my observation is the same - the people who spend 60-80hrs at work do take all their socialization into workplace. Meaning they waste time of people who want to work at work and then go home - either because of kids or because of aging relative or because of anything else including hobbies.
The above is one more reason to avoid fun cultural workplaces. They tend to want all of you, not just your work.
Other than that, I cannot think of a single place that is appropriate.
Anyway, I was thinking of the sorts of situations that actually turn up, on average, for most people. There are only so many princesses to go round, a tiara is highly unusual office garb, and I've never heard of anybody asking to be called "princess" in a professional capacity, at least not in white collar work such as Google. I stand by my rule of thumb. My difficulty thinking up situations was based on my experiences of being at work, which are of course unique, but not, I suspect, especially unusual.
(But if we're trying to think of unlikely possibilities, what about if Princess is your colleague's name? Though given your reply, I expect you're the sort of pedantic so-and-so who'd actually notice that I deliberately quoted it in lower case to sidestep this one.)
(but yes, clearly exceptional case)