There are many parallels. As you point out the interviewee cornered in a room and find themselves attacked by one person after another. Most of the interviewers have the agenda to discredit and intimidate the interviewers whose looks or ethnicity they just don't like. If the person "looks cool" though then they go easy. It's hostile and confrontational and the interviewer is expected to take the abuse and not fight back or they are not demonstrating teamwork, where teamwork in many of these companies means being a passive beta that accepts abuse. Very different from talking one on one and having a chance to document one's competency.
Gang bang interviews are a form of violence, they are wrong, and they should be stopped. No one should defend gang bang interviews in tech. Or in any other fields, but gang bang interviews are prevalent in tech mostly, I've never seen the practice in any other field.