Online social events just don't do it for me. The time delay is a small factor, but reducing social interactions to what I can take in to only two senses while everyone sits in a chair is just not what social events are.

Real life interactions involve every possible kind of stimuli -- we're just usually only conscious of a few of them. I must need to receive subtle scent cues, micro-gestures, voice interactions with the room tone around us, whatever else we don't know yet that influences us in order to enjoy video chat bullshit that is more than transferring work details. Video chat works worse for me, socially, than talking on phones ever did, though I don't know if the extra video information is 'blocking' what my imagination filled in while having a phone chat.