In high school, we sent our own kids with their own food. The cost does become a problem for some parents because "group meals" involve more food than necessary, and someone else is deciding what you should send and not send. And depending on when individual events are held (as in a track meet), there will always be some kids who don't get any food because they're at the end of the line. Then there are the issues of personal taste and food sensitivities which are on the rise.
For Cross Country, we had a team meal (men's and women's teams combined) on the evening before the first meet of the season. No soda, due to the dehydration effects of caffeine. This was a no-coaches, kid-run, team-building event held at whoever's house was big enough (usually it could be done outside since it was plenty warm.) It was typically a pasta party, and usually the captains organized some group activity like shirt tie-dying (kids brought their own plain white tee shirts, the team paid for the supplies - I think there was a set of buckets that kept getting used by different teams or school clubs, so it was only the dye stuff and paper towels that needed to be bought). Another good reason for a backyard vs. an indoor party. When my kid was captain, I invested in a few of those foil chafing dishes with sterno fuel, so that kept the pasta and meatballs and sauce warm.
At the end of each season, there was an awards dinner organized by coaches and captains, open to athletes and families. Usually that was a catered buffet chicken dinner (chicken, mashed potatoes, gravy, salad, cornbread, etc. plus soft drinks and water, with cookies for dessert). This was a fee-based event and the coaches had some sort of deal where kids with financial difficulties were just covered by a fund, and no one knew the difference. Parents who worked late could skip the dinner but come for free to watch the awards and listen to the speeches.
We didn't do parent-organized dinners until college when there was tailgating organized by parent volunteers. But cross country is an odd sport - it's all outside, it can be cold, there's no shelter other than a pop-up tent, and everyone is done at the same time. So it worked to have some tables, some sandwiches, side dishes, etc. But even so we did it for large, multi-school or championship meets, not every time (just the big meets that people would travel for.) For winter and spring track meets, we would organize things like granola bars, trail mix, healthy sports drinks, and orange slices, with those parents who were attending volunteering for a different part of it. But in this case, the kids aren't all eating at the same time because the events stretch out over the course of hours.