I heard about JuicyCampus.com on the news, and I've been meaning to check it out before they got shut down. There's a campaign, led by Headline News and some do-gooder watchdog site to shut them down. And while I agree, sites like this can be harmful to the communities they report on. At the same time, freedom of speech is an important freedom, and we must be careful of any curtailing of our freedoms.
Juicy Campus is a "bathroom wall" site, meaning it publishes gossip of the prurient nature. I saw posts about who is the biggest slut on campus, who the closet cases are and a number of rants about race and ethnicity. (Although I must admit, I too always wondered what the difference between a Persian and an Iranian was.)
Morbid curiosity made me go to the site and check out my school, UCLA. It seems to me the majority of posts (at least for this school) were snarky people just trying to stir sh!t up. (I won't let this serve as a reflection of the type of people attending UCLA right now.)
My only beef with the site was the lame layout, and the way long-load time for reading comments. Also, you can't tab-browse on the site. But I'm guessing the people running this site don't really care about tech.