Not quite as such. The chance to mingle with others and hear perspectives not one's own was there, of course, but I've only encountered a few that were this... "whimsical," I think the best term would be. And the majority of those were for the youth.

[The corners of his lips curl up around the glass as he takes a drink, eyes glittering with mischief]

Of course, that's not to say no entertainment could be found in the more formal parties. While it's rude to bring up what one's peers may do or say while inebriated, 'tis far less so to remember such things for them.