Yes. You can invite several people to manage one wishlist together — send each of them an email invite and give each one an access level. It's a handy way to run a family list, a group gift, or an event you're planning together.
Steps
Open the wishlist and go to its access (sharing) settings.
Invite each person by email address and choose an access level for each:
Contributor — add and manage wishes (can't rename or delete the list).
Full Access — also change the wishlist's settings and delete it.
Each person accepts their own invite and signs in with the email you invited.
Everyone with edit access can now work on the same wishlist.
What to expect
There's no separate "group" or "team" wishlist. It's a normal wishlist with more than one person invited to edit it, and people can hold different access levels on the same list — one Full Access co-owner and several Contributors, for example.
A Contributor can only edit or remove the wishes they added themselves. A Full Access person (and the Owner) can manage everything.
Only the Owner and Full Access people can rename, change settings, or delete the wishlist. Removing it deletes it for everyone.
Each person needs their own invite to their own email — there's no shared password or single link that grants editing.
There's no hard cap on how many people can co-manage a wishlist. Invites are only rate-limited to prevent spamming: up to 100 invites a day across all your wishlists, with up to 50 emails per single invite. So a large group just means inviting people over time. For the step-by-step invite flow, see "How do I invite another person to edit my wishlist?"