Absolutely, I thought the idea of team building was that it was meant to be fun and made the players interact and build relationships. I fail to see where making the players kill animals that they don't want to kill comes into that.
Without engaging in the meat of this discussion (pun intended) as, quite honestly, it's already had far more attention than it warrants; but... you thought wrong.
Many forms of team bonding are arduous as hell, bringing the team together against a "common enemy" type. Then there are plenty which are educational; all in it together learning new skills (eg how to survive in the wild).
Team bonding exercises aren't meant to be fun, they're meant to help promote teamwork, and bring members of the team closer together. Of course, several are based around having fun together; but they're more aimed at getting corporate nobodies to have a good time together and find out more about the person in the cubicle next you than an approximation of their name. If those ones aren't fun, then the business soon goes bust.
Trust me, the marines use a different type of team building exercise.