Fun traditions might be undignified by the standards of academia, but they're perfectly normal in many other social contexts (small company, group house, etc.)

You know what else exemplifies "mild cult behavior"? Burning Man! They give each other physical gifts instead of imaginary internet gifts. Even more problematic.

If you are willing to define "cult" broadly enough, you can use the term to shut down any kind of cultural development. (Of course, cultural development that's already happened will get grandfathered in, the same way we don't call religions "cults" because they are too dignified and established.)