I suppose...
I've died like numerous times getting only my two leader APandas bound, then getting killed because of reduced health. I'm trying to imagine what the 'combined team health' could mean in a practical sense, like a team sharing health what? Maybe it's more like team morale, because it's not like your mons actually die, and then it would make sense for your 'health'/morale to decrease if your leaders get bound. But then my imagination runs wild and I'm like, then HP modifiers are more like CHARISMA modifiers, like "I'm on your team betch, get hype!!!!! x1.25(2), woot woooot!!!!!", followed by all the puzzles and waifus/husbandos/furries/dargons getting sexual convulsions and flushed complexions and breezing through dungeons with increased 'morale'.
Wow that got weird quick.