I once read a case about Tom Siebel that said that he required that every Siebel office in every city contain the same blue carpet and beige walls. Employees were required to dress formally for work every day. This was at the height of the dot-com "I wear shorts to work and play ping-pong all day" office culture. When people asked him why he was so strict while everybody else was allowed to have fun, he said something like "Employees come to work to make money. They can play on their own time." I read that and thought "this guy is fucking awesome." I think if culture is too lax, work suffers. A lot of people thought Siebel was a dick, but he and a lot of his employees came out very very rich while most of those dot-com's went bankrupt and their relaxed employees ended up looking for work.
That's why when I see people bragging about places like the Googleplex or Zynga's offices with awesome meals and pods to nap in, I think that their priorities are somewhat out of whack. All that said, everybody is different. Some people love their jobs and don't mind intertwining work and play. To each his own.