My experience is that by default it's like that game where you fold some paper, draw just up to the fold, pass the paper to the next player and they continue, and then you unfold it and see what came out: https://i.kym-cdn.com/photos/images/facebook/001/782/166/960...

With editing or lots of regeneration it can still work, of course.

(That said, I last tried this with the original ChatGPT…)