This depends on how the parent/guardian manages control. Hugely addictive, the game has youngsters glued to the screen for hours unless there's some constraints set up. The time spent is the main damage, in that this prevents the child from engaging in other pursuits, including having sufficient sleep! The actual game is not so violent and has a lot of humour.
There are also optional dance moves, which of course can be rehearsed and replayed in the playground later. You play in teams, so there's pressure from other players for you to keep in the game as points may be jointly won. If a parent stops a game when it hasn't concluded, the exiting player ruins the point position of the entire team. I'd imagine there'd be retribution at school next day. Scary!