Yeah, pretty much. At this one particular conference there were actually loads of stands in the hallway and I would hang out and chat with various people there.
The more professionally organised ones don't tend to have that many stands, except for paying sponsors. I understand why they do that, but I think there's good value in "community stands" too.
I mean, the talks themselves are just "shut up and listen", right? Not too much socializing happening there. I think that revolving the entire conference around presentations is probably not always the best format.