The econ theory seminar took place in a medium-size conference room with a long table. Graduate students sat in chairs along the walls. The speaker was at one end of the table and econ professors, usually including multiple Nobel prize winners, around the rest of the table. A copy of the paper was sent with the talk announcement and almost from the first slide the faculty aggressively attacked the speaker with questions about the validity of the model or the importance of the results. (Remember this was the theory seminar, imagine the questions at the political economics seminar). At the end of the seminar time, the talk ended and everyone left the room. No applause.
I don't recommend that we follow this model in theoretical computer science. However we usually go to the other extreme and (outside of crypto) rarely ask negative questions in a seminar. Typically the only negative feedback we get in our field is from anonymous referees and reviewers. If we were forced to defend our research in an interactive setting, we would establish a better understanding of the importance of the models and results of our own research.