Eh, after our chip fab burned down, I was part of the recovery team sent into the (not burned down, but technically part of the same building) computer laboratories. Basically our remit was, identify key machines or paperwork that needs to be retrieved, ensure anything that needs to be running is restarted, stay away from the access corridors into presumably unsafe sections leading towards the destroyed fab, and if you see anything that is out of place in a normal office building that just suddenly had its power go out (e.g. smoke damage or actual smoldering debris), retreat and report what you saw to the team surveying the damage who are trained to go somewhere actually dangerous.
Anyway they ordered us pizza and I thought that was nice. It felt like a team activity, and pizza is a team food. Also you're wearing gear, so having pizza brought in saves changing. And the insurers are out the price of a state-of-the-art chip fab, so what do they care about buying us pizza?
But obviously I'm not working unpaid overtime, the job is the job, if I need to put an extra hour in to ship the code today I can do that, if I need some time to wait for a plumber tomorrow I'll just take it, if you've got a two person job you need to hire two people not expect me to do more.
If your workplace has work-life balance problems or you feel under rewarded for your work, that's not because pizza is the problem, that's a whole separate problem and it's exactly as weird to blame pizza for that problem as it would be for management to think pizza can solve it.
In the UK at least I believe the tax rules mean the business can justify the expense of taking everybody out for food and fun (e.g. pizza and bowling, or golf plus cheese and wine if you're determined that pizza is for children although personally I would take pizza and bowling) say once a year so long there is a business purpose to the meeting, so e.g. you spend an hour attending a presentation about the corporate mission and financial projections with little relationship to your actual job, then you spend the rest of the day eating and hanging out.