They seem to get put on a pedestal a lot, as if they're some sort of secret society dedicated to hiding content from us lowly scrubs. But it's not really like that at all. They're pretty much just like us if we were a private forum (for a while you had to be approved, but they did away with that and blocked registration altogether at some point). I think some trolls still go on there, I know BlueSpike does, but it's really no different than, say, Albasperchu on the old forums (Alec hasn't moved over to these ones yet, but I dunno if he's going to). Most of the trolls, like Liquid, specifically have nothing to do with it anymore because they wanted to move on.
But no, it still exists because...it does. A lot of it is just like the general discussion on here, although they do more discussion on lolcows other than Chris. So yeah, if you somehow broke in you'd just find a tighter circle of people talking about stuff and you wouldn't find any Super Secret Dox™