Memegen is something that HR wants gone, but knows it cannot afford to take away as they already made Google a worse place to work at during the past 10 years. They already sort of hijacked it and took control of it.
Not everyone will use Memegen in the same way. But quite often a high voted meme can be treated like a high voted bug report. It provides signal to the team.
Note that I worked on internal tooling. External facing teams have lots of other feedback channels, and they know that Googler's feedback is biased. So how the team responds to the feedback can be vary a lot.
A long long time ago I used to work at Yahoo. There was an internal mailing list called "devel-random@yahoo-inc.com", which was basically a forum for engineers to let off steam. I used to enjoy the occasional emacs-vs-vim threads, or the ribbing it frequently gave to Jan Koum (founder of Whatsapp).
When Marissa Mayer became CEO in 2012, one of the first things she did was to join this forum, to get a pulse on the developers.
I know this, because my VP comes running to me one day: how do I join this group "devel-random"?
I asked him: are you sure you want to join it? It's a huge time suck if you're not careful.
No, no, he replied; Marissa wants us to join it so we can get a feel for the company (turned out she said no such thing, but you know how senior management is: aping everything that a CEO does).
A couple of weeks later he quietly quit the list. :-D