According to Yasuo Hazaki, it should. That's why he's organized a committee to advocate for the traditional children's game at the Olympics:
Prof. Hazaki set up the Japan Hide-and-Seek Promotion Committee in 2010 and the organisation has around 1,000 members across the country. Many are university students, but the sport can be enjoyed by anyone, he emphasises. [...]
The committee has set formal rules for competitive hide-and-seek, pitting two teams of seven players against each other in a 10-minute match. In the first five-minute half, one team is given two minutes to hide on a "pitch" that measures 65ft x 65ft . The opposing team then has to locate and touch the hiding players.
In the version for children under the age of 12, the pitch measures 55 feet x 88 feet.