I'm sorry, but ruining people's lives for no reason other than the entertainment of your audience like Gawker was doing is not journalism. Peter Thiel did us all a service there.
I'd characterize it as, "journalists" using their platform to go after specific people they don't like. Thiel helping one of their victims who couldn't afford to mount a case without running the risk of ruining themselves if they lost. Seems to me like a really noble thing to do.
And yet Breitbart is still up. So this idea that it's just about enforcing the law rings a bit hollow.