The question is, then, is where do we draw the line?
If you ask me, let's start with eliminating a few things and narrowing down the scope, shall we?
They write a lot of fiction and archive memes and internet culture as well as have had a notable impact on the same. That makes them a source of media with influence on other media. That we can all agree on.
The problem here, is how do we excise anything they say or do then? By their own definition, they are a modern day version of Ambrose Bierce's ;The Devil Dictionary", which was a parody of useful information. By and large, ED fits this parody definition, as the information they provide is mean-spirited, irreverent, and otherwise antithetical to being a useful source of knowledge aside from certain malcontents. None of that breaks any legal laws to my knowledge, thus it is not illegal to view or discuss.
Finally, the final line seems to be "should we exclude coverage of them as a "hate site"? In my opinion, I would argue no. For once, they are very equal opportunity. Everyone is a potential mockery of scorn and mockery. No race, creed, religion, group, ideology, place, or idea is exempt. Since they are a parody of useful wikis like Wikipedia, which strive to be constructive in mission while objective in tone, this does not elevate them to role of a site that is meant to purposely incite a hate crime, however one defines that. Unlike a site specifically devoted to some like neo-Nazism or the otherwise unironic hatred of any particular group, they have no particular focus and have alternated between mockery and praise, often in the same paragraph on many pages, of many groups and parties they subject to the castigating eye of mockery. I recommend reading their page on the Nazis for a good example.
Ergo, my position is this. Overall, insofar as we can trope the site without referencing anything potentially libelous (at least under the laws of our server hosting), the page should be allowed to stay, but otherwise we make sure our coverage remains specifically objective, with no favoritism nor condemnation.