Is that what people mean? Just the multi user side of it?
GitHub is also somewhat entangled with junior hiring in compsci, meaning there's a tangible economic incentive in building a hireable profile that a recruiter might like. (Or at least that is a widespread belief.)
None of this has much to do with git, the VCS tool, nor is GH-as-a-social-network objectively very important, but it's natural to place outsized importance on a community in which one is active, and there's a significant overlap in the HN commentariat and GH users. So you'll probably hear more about the claimed social utility of GH here than in the real world.
Hope this helps clarify what people are talking about. :)