It's supposed to be the prototype for an ingame <a href="http://www.unknownworlds.com/ns2/forums/index.php?showtopic=119466" target="_blank">gather-esque</a> system afaik.
Yeah I tried it last night and I was the only one on, at least that I could see. Seemed to hang my game too, was just about to use task manage to kill ns2 but it eventually unfroze.
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My big worry about quick join and pugs is that it could pick some random server that happens to be way underpowered and makes for a bad experience.