ppl buy those sites not for the content or how it looks, but for the domain name itself and the age.
Also, if you check out what the seller offers if a buyer uses the buy it now option (which they did), that's a lot of foundational "grunt work" taken care of with all those Web 2.0 pages/posts and article directory submissions and social network accounts created.
Sure, most of us here at BHW could fire up a few tools and pump that stuff out pretty quick (which is what I'm sure the seller does), but for the average person who hasn't the knowledge or tools to automate with yet, that's days and even weeks worth of site launching labor taken care of for you.
For that average newbie, they would have to write all that content themselves, then create all the accounts, post and publish the content...it's a lot of work when you don't automate. So, having all of it done already is a real value-add.
The key is getting buyers to view your auction offer who are at that newbie stage. A majority on Flippa know the tools and systems, so you won't get them to fork over the big bucks for a few Web 2.0's and spun articles, but if you can get a couple eager newbies to see your listing, make them a great offer on lots of prep work being done for them, and show some revenue it's not hard to get a decent price from the sale.