By "party", I mean a physical social gathering of people for the purposes of having fun. It may be used in a sentence as "I am throwing a party!" or "Let's party!".
Basically what I am trying to say is the default "party".
I've never been to any, and I have no idea how people spend their time on parties, so I am curious how you did.
Good parties are wonderful, the type of party described above does sound miserable but you can choose which parties you want to attend. Personally I like parties that revolve around board games and interesting conversations where the only real social rule is to bring something: cheeses, an appetizer, weird booze, just something so all the provisions aren't the sole duty of the host.