I might make a controversial statement here. Here is the choice that is offered to participants for year end trips. Obviously some people decide to go their merry way, have job interviews planned or will just retire in peace with their family after the hectic end of P5.

Croatia - a total cost averaging 1000 euros and limited to 135 people (or be prepared to pay a lot more and have to organize everything yourself)

Cannes house - unknown total cost but I think that about 20 people will benefit from this

Sailing trip - total cost of about 400 euros (all inclusive), but limited to two boats (for lack of participating skippers, some of them being booked on the other activities)

Bali - one of the most expensive and trendy destination in South East Asia

All these trips are limited in space (although the Cannes idea could be expanded to more houses) or cost a lot of money. What is the idea behind a year end trip? To get together everyone that should get together? Do we need to go to the other end of the world? How can we make it attractive enough in terms of activities to avoid boring to death high achievers and cheap enough to welcome everyone. It is true that most MBA students are high net worth students compared to the average university headcount. Still, I find it a pity to propose trips that are either too limited in space, or too limiting in cost for such a great last gathering!
It sounds obvious to me that people will cast themselves into different activities, since not everyone likes doing the same thing - some might require flexibility. It is inevitable that there will be a split. If people are the deciders, I see no problem with that. If some decisions are being enforced by a set of unmanageable constraints, I find it a pity.

In any case, everyone will have a hell of a time and that is all that matters for now.