You can link as many grounds together on the same pcb as you want.
Logic ground is logic ground.
Those joysticks have their own circuit board and the ground for every directional input is linked together for you already, so you have only 5 wires instead of 8.
One wire each for L, R, U, D, and a common ground.
For clarity you can daisy chain the player 1 joystick and all player 1 button grounds together and the player 2 joystick and all player 2 button grounds together- utilizing only two ground connections total on the Ipac.
You really could bond every ground in the whole panel together if it all goes to the same interface board and it wouldn't make a difference to the board.
Those impulses/loads are so small, short lived, and travel so fast that it doesn't matter.
If your friend is a real electrician he/she will tell you that you would NEVER do this in the wiring in your house.