If this is a pirate enterprise, how is it still functioning? and why are people still using it? I suppose greed is still stronger than fear!
It is not solely pirate. A gentleman by the handle of Zux0r handles most of the administration, and does a damn good job.
As for why we use it? It is an amazing operational tool for managing large farms. I utilize it to monitor and manage my 30+ miners, and it makes the task of re-directing power to different pools a snap. The public work aspect is simply a bonus, and some do not even bother with it.
There is a huge difference between lending a guys 100's of thousands of BTC on nothing but a prayer, and utilizing a good service that you can withdraw from instantly if you choose.
I can understand how it may be useful, however, your arguement is that because its run by a known thief and some other guys, the other non thiefs make it ok! Seems a little mad to me.
And as for the 'withdraw instantly' thing, I seem to remember Pirate saying something else about his 'investment fund'!