Whatever happened to bathroom graffiti?

I ran across this article about a newer website called Juicy Campus. All I can say is WTF?! When did it become necessary to gossip about people you know online? Back when I was a kid, the most public form of gossip was to see something written about a person on the bathroom wall at school. And then as you move on to college, maybe you see it in the dorm or bar bathroom wall. Of course there is always the old fashioned way, word of mouth. But seriously...a website dedicated to gossip?? So I had to look for myself and figure out why this is becoming such a phenomenon.
First, their web page pretty much sucks. Took forever to load, matinee style scrolling text across the top, and, oh my, is that much javascript really allowed?
I was relieved to see that my alma mater was not one of the participating universities. I was shocked at how many ivy league/prestigious schools were on the list. These are kids that are supposedly being groomed to be our future leaders...and they're talking shit about one another on an anonymous website? Shouldn't they be studying or something?
Let's hope that this site fizzles soon. Social networking sites have caused enough controversy among the younger users, let's hope this thing doesn't spread. I think this site is going up on my list of worst use of technology/this is why idiots shouldn't be allowed to use the internet.