Seems like they are providing user names with pw, so I thought I would bring it to your attention. There was also another site with the same name but using .net, and it had the same forum structure. But all the posts were by the same guy lol.
i don't see what the big deal is ... shared accounts are nothing new. the board owner has it set so you cannot view uploaded pictures or attachments unless you're a registered user. if you just want to check something out, but not go through the trouble of creating and confirming an account, then a bugmenot account is the way to go.
Someone just makes an account and posts the password so others can take a peek without registering.
If a site admin wanted to try to stop it, it would be simple to write a script to periodically check that page (and others known to be like it*) and auto-ban any accounts listed there.
Torben
[Edit: Of course, they'd just move the page. If it escalated I'd suspect that the bugmenots would tend to stay one step ahead.]