It's a place to go die a horrible painful death as a low level swordsman who's curious about shiny lights in the middle of Geffen. Seriously though, as a low level noob swordsman shortly after I had started playing I saw the portal open and became curious about it and decided to find out where the light went. Horrible idea.
I can't help but laugh every time someone opens the fountain portal because it's the perfect opportunity to yell "don't go into the light!"