It overwhelmingly emphasizes the following, from my experience:
1. If you are not famous, you don't matter. 2. Front-end engineers are invariably the most important and skillful, and backend engineers really aren't valuable. 3. If you hold any position that's even accidentally politically incorrect, you will be publicly shamed for it, and some people are quite relentless at bringing up tiny past mistakes.
Overall, it seems like a fairly useless space unless you can take advantage of the above 3, or if you want to have the lowest self-esteem possible as rapidly as possible.