For a worker, yes, its less of office politics and having to deal with crappy co-workers. But that is how you grow. I learned so much when I am working with people than being all alone. So, having couple of people approach the same problem in different ways, helps you learn, teach & grow. I was learning something new everyday, when I was working in a team. Plus contract jobs are effecting the basic needs of human beings - "food, clothing & shelter", due to the very nature of uncertainly. Basically I am more worried about the basics and not as focused at my job when I have a full time job. I feel that I am just completing the task at hand to get paid. I don't analyse the issue and try to find a solution or seek for some improvement. Plus working in a specific domain for a period will help in gaining experience and you have build up skills.
For a employer, how much ever you document a solution, there is going to be knowledge gaps. Only when you have someone working on a problem for a while, will they be able to come up with a better solution. Each employee comes come a different background and will view the problems differently. That will bring about a nice work culture.
Team work is not given enough credit. Instead, there is always the focus on one rock star that does it all. I personally feel that for that one rock star to actually perform, there needs to be a team behind to support.