Hazing rituals are great as a test of how individuals respond to stress, both external sources and from interpersonal realtionships. They’re terrible when they’re disconnected from actual stressors.
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They DO increase bonding but it a doglike and servile kind of bonding that requires full submission of the individual will to the group.
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This type of gatekeeping is probably the main source of group death b/c the selection process has become too good. People only select for high self-similarity, truly new blood dries up, and the group shatters to the next black swan event.