This view is actually very insightful. It is true and sad that social and face to face interactions are ever increasingly very rare.
This Steak Clause is really a good way/reason to get to know the customer/client more and be able to spend more time with them.
However, I would think that this clause can only be used for a certain amount of loss.
Something too small and it won’t work, unless you substitute dinner with coffee. Something too huge of a loss, and you need to think twice whether or not you’d want to bear that loss and gamble.
As good as this theory is, in my opinion, it can fall through just as badly as the agreement if this clause wasn’t brought up.