I think there's more nuance to what I'm saying: it's not just based on your company culture but on the situation you're faced with. Let's make my example more concrete. Let's say a member of your team calls another team member stupid for an honest mistake, in a public setting (so was witnessed by the rest of your team). Telling that person there and then "that's a disrespectful way to speak to a colleague and is against our values" will:

a) Demonstrate to all witnesses that the behaviour is not in line with your values

b) Make the victim of the behaviour feel seen and know they aren't alone

c) Make clear to the person receiving the feedback that you're unhappy

To achieve this same result in private conversations is monumentally more effort, if not impossible. If you pull them into a private conversation, you're still publicly reprimanding them, just without giving clear communication to everyone. Do you wait until later to reprimand in private? Then you need to speak to everyone about what was said and repair the damage that the delay in speaking up caused.

However, there are plenty of situations where calling out something so publicly would be the wrong thing to do, like pushing bugs to production, as you'd likely be seen to be overreacting. You still want to give the feedback if, say, the team member was ignoring processes. It's just usually better done in private.