I would agree, if this was the only method of getting job offers from Google. But since the "traditional" methods via the Careers page, recruiters, etc, are all still perfectly available, this doesn't bother me at all.

"elitist, adolescent, and "secret society""

That pretty much sums up the people I have met that work in Google engineering. I have only met a few at conferences, but thanks for putting words to the initial feelings I got from them all.