It's toxic in the way that stealing from other players is a core part of the game. It would not be fun without this attack/defense pressure. It's a rollercoaster when you strike a lucky treasure, only to lose it minutes later when another player runs into you.
Laughs you do... But there's this... This addiction to it all really. You keep wanting to come back for more and the game has always kind of had that element to it. Even from before Rust is what it is now, it use to have a single smaller map in its Alpha days.
I'm sure @hivetrending can agree on that element of fun the game has. You gotta be carefull though because once you've started it sucks you into a loophole that you can't get out of!