I'd like to see you loot that chest over 700 time on a PVP realm.

I wouldn't be so quick to write it off as a waste of time. Sure, the contents of the chest shouldn't be at all valuable to a level 70. However, the combat is unique in that arena. It's Free for all. Meaning: You have everyone attacking everyone in a chaotic fashion.

You might have two alliance crushing each other, and have a horde rogue come up and kill the both of them. "real" arena isn't even "real" arena. Gurubashi arena was the ORIGINAL arena.

There are two similar places to engage in true FFA combat, but neither of them are used, due to the fact that there's nothing to fight over, like in Gurubashi.

I thought the organized arena concept was cool at first, but it pales in comparison to uniqueness of Gurubashi. There're three scenarios that I typically encounter in organized arenas.

1: Two Stealthers, typically 2 rogues or 1 rogue, 1 druid. There was one instance where my team ALMOST won.
2: A healer and a DPSer. They usually win.
3: Two DPSers. These are the ones that I win most often.

I don't play 3v3 or 5v5, but I can imagine the preset standards for them. But in Gurubashi arena, there're no preset standards as to what to expect to fight. The only thing you can prepare for is 9 classes in any number of combinations, either fighting each other or you, with any number being the amount who showed up.

Gurubashi Arena > Boring 1 minute long organized arenas.