I think the password was there originally as a hold over from when we first got a NA server. The EU servers had the password because their was 2 servers and the password was on there for 2 minutes or whatever to encourage people to join the other server instead of just pounding join over and over on the full one.
I wish we could consolidate some of the NA servers into a bigger 120 man or 150 man. It's kind of neat to go on the 120 player EU sever and see like 6 clans on each team working together in little units. NA seems like we have a lot of the clans all go off to their own servers. Obviously this would probably never happen because it would require clans to pool money to get properly powerful servers but it would be cool.