At any given time, about a third of the Gaians online are in the Chatterbox. Every single one is posting, mainly bumping the feck through yet another pointless thread. If the chatterbox post limit was shortened, or even removed, that'd be a lot more posts and a LOT more load on the server. That, and all the greedy bitches just posting for gold elsewhere will migrate to the chatterbox because its posting time restriction is lower than everywhere else. Even more posters, even more posts, even more load, and the rest of the forums will become much less active.
Basically, if we lower the post limit at all in the chatterbox, even by a second or two, it's going to create much more load on the server and generate even more of those nice crashes and whitepages and 404's we see every now and then.
And BEFORE you say the following, "Just upgrade the server! Then it can deal with the load!":
And while we're at it, let's have to upgrade the server every few thousand members because they're all flocking to the chatterbox. Yay for spending all that money we donate on really expensive stuff that could be easily avoided and spare the money for use on other actually useful things! While we're at it, let's bring ads back into every part of Gaia because we wouldn't be able to afford all the constant server upgrades.
Post time limits are not being lowered. Anywhere. At all. It's too costly, and, as a result, impractical.
As for why it has that description, it's because there are so many people posting so often in the Chatterbox and spamming the feck through it that, even in non-peak-hour, you can't visit the Chatterbox then refresh the page a few seconds later without there being already at least a hundred new posts.