There would also be more one-night stands, no?
There could be a middle ground here. If there was limited interaction in more supervised settings- work, weddings, etc. that could lead to a boy and girl setting up a shidduch date using a “shadchan” post facto with none of the stigma that might be a net positive.
At the very least it would certainly avoid the type of conversation a woman by a rather high-end, frum event/conference I attended, was having. She was loudly talking on her cell saying she didn’t know if the girl was for her son because she had just seen the mother by the event, and the mother’s looks weren’t all that great. “Then again”, she said “they tell me the family is well off”.