I'd imagine the global chat helps lure people in when they first join the server. Instead of popping up in a noob zone, alone, and killing low level critters for a couple hours without hearing or seeing another soul, they are greeted by familiar and entiving /auc spam and LFG calls.
I know that when I was level 3 in the noob zone I was so eager to hoard everything and level furiously because I see the "WTS FBSS 12k" and "LFM LGuk 33+!" and it's something that sucked me in.
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