I watched all these stunts during fraternity pledge weeks in high school and college (yes, 2 HS's I went to, in two different states had "party" fraternies and sororities, lol!). IMHO, the group of people that find it entertaining are: 1) the folks that aren't old enough to be in college yet 2) the ones that didn't go to college and/or never got to watch the absurdity of pledge week or 3) the ones that watched pledge week pranks, and really enjoyed them :P
But as Ulfie suggested, it's Darwinism at it's best - let the games go on!