The original idea of that chat was to enable easier and quicker conversation during race and practice sessions. It also enabled us to prevent some in-race posts in the race thread, as a forum is rather not meant to post live commentary.
I believe that this purpose is fulfilled well. Race threads are shorter and people can communicate much easier than before. It was to be expected that it would include some fanboy drivel, but then again, I think there is no shame in supporting your driver when on track. To me there's a clear distinction between talking as the action goes on, and discussing afterwards when things can be looked at in a more calm and slower way.
It also needs to be said that Sunday's chat was the most troubled so far this season, but that's only due to one hothead in particular. This has been dealt with.