I greatly appriciate the 'Codex as a social experiment with a truly open forum. I visit it daily but i never post there. If someone wants to say "i am open for free speech buuut...", i gladly direct them to the 'Codex.
What is so great about is that there is no other site where neonazis, crypto-muslims, trannies, basement dwellers and even developers discuss the merits of an RPG with each other. When there's little to no moderation, there can be a lot of dung, but when there's something good, it really is as Jaesun says: a diamond.
I also think that i get some schaudenfreude from people posting there under the pretence that if someone says something inflammatory, then a moderator must come and smite those people. They usually make great fool of themselves when they realize that such speech is actually permitted there and often get the 'Codex Hivemind lashing back at them for not being able to find a decent counter-argument. As some would say there: "Butthurt detected".