As someone with a family, thus sounds awful and very much the sort of "the company is your family" cult like behavior that has warped the industry for the past couple decades.
I think it’s a reflection of the cult of youth. It’s common in many industries. Young people will put in long hours to get experience and give up comparatively little because they have less going on outside of work. It’s not necessarily healthy but it’s also something some of those people actually relish. So such an office design tends to appeal to a younger crowd by default.