1. It gives people a place for dialogue
Lists allow for a quick way to exchange ideas. You can skim a topic, make your picks, and then debate with others. It's a fun way to get a discussion going.
2. It helps brands reach their audience
We can stitch brands and advertising into the site in ways that connect with interested parties. (i.e. Dell could sponsor the Technology category for a month and build thought provoking contests around their brand.)