I suppose that the elites did start as a "cool kids club", but in the end it was a great way to catch up with some of my oldest internet friends and find out what's going on in their lives. The majority of us are in our mid-to-late 20's. We have entered the workforce and we would talk about our jobs, or what we hoped to do once we got out of college, or just what we were doing in life. And to be honest, that was literally the only thing that a lot of them visited the forums for.
A lot of us are friends on facebook, but at the same time a lot of us don't even use facebook anymore. And facebook doesn't provide the same platform for us to simply send a message or two every couple of months all in one spot.
I recognize that the old forums definitely had stagnant subforums and that this may be a new format that would reduce that, but I'm sad that my line of communication to these people I've known half of my life has been severed.