Maybe ok for maintenance, (not really sure if sufficient by itself, but can be a component) but doesn't work for building/developing
On the other hand if you only interact with the person one on one it can sometimes become "stale" (though arguably it's a reflection of my conversation/interactions skills to a large degree).
My preferred mode of interactions with people is trending towards 1-1. The group interactions are "lower pressure" but they're also often missing depth, which I crave. I think "mostly meeting friends at social things" is a bad equilibrium - you're always in the state of "kind of saw each other recently" which is technically true, but rarely affords for you to get to know each other better.