So I tried the site. Yeah I was kind of disappointed about the payout requiring 1.5BTC worth of "gambling" (or is it paid in, I'm not sure.) So in that sense it is kind of misleading. But what I don't get is why everyone is getting their panties in a bunch about "IP logging."

If this is just a front to get the IP addresses of forum users, what's the point and why care?

Any site linked to here could do that, even just embedded images. Why is this such a big concern?