I describe it as "cult-like", because they are essentially taking the one independent choice you have during your work day (what, where and how to spend your lunch break) and making you conform to the "norm".
I think it's probably a great thing at FogCreek, because everyone is isolated in private offices all day, so forcing everyone to come together is probably a good idea. But I don't think it would be the best idea at all offices, especially those with open floor plans where lunch is the only time you can get some peace and quiet.