I've never done it. Like how can you go that long I mean one prayer is boring enough.
For many LuQ I suppose is considered a blessing. They are there with friends and family therefore there's a communal element to it, add to that the exercise and stretching of limbs, the meditative sound of the Qur'an and, how could I forget to mention, the free food.
As a practising Muslim I looked forward to this particular night. And if it gives people a sense of positivity and achievement then good for them. You may say there are better ways to achieve this other than spending a night in prayer, well, there are lots of things you may consider to be better than x, y and z but it's the individuals own choice.
Ask people why they participate and, despite the grogginess, they may tell you they enjoyed the experience.