I think it might have been useful if things were actually done to prevent "pests" other than screaming their heads off when a server got crashed. The real problem is that things like this are being created, and influencing these script kiddies to do things that cause them to get attention. Although there would still be crashes, nobody would be getting this much attention and causing pointless things like the Pest Eliminators to be created.

Besides, without any actual power over the list servers, the Pest Eliminators have nothing to go by. Having PE next to your name does not make anyone an omniscent diety capable of preventing crashes, exploits, and world domination. The list server administrators are doing a good enough job, in my opinion, with the policies they already have set.