Here's what I don't understand:
1. The exploit doesn't prevent servers for gmod from existing, and many big name RP servers are still up, so why did VM pull theirs?
2. Even so, I barely see any servers even remotely affected by this, and it seems to have only been noticed as other games have been patched and gmod hasn't.
So what the fuck is up with all of this bullshit? It seems like fucking swine flu! (IE: something that seems serious, but has been going on forever and ever and NOW everyone is making a big stink about it)
Furthermore, It looks as though VM has pulled their servers for the exclusive purpose of saying FU to Garry(
http://www.facepunch.com/showthread.php?t=798387) (which in truth is
really stupid as Garry
knows the problem exists and has admitted that, as someone who really doesn't know the source engine's code, he can't do anything for now until valve helps him)
In closing, Please reinstate the servers, this is bullshit. If you're so paranoid about people fucking with the server, maybe you should recruit some admins that are at least 17? (not to imply that your admins are kids, I'm just saying it helps to have admins with more maturity, yanno?)
TL;DR
BAWWWWWWW I WANT THE SERVER BACK!!!!!11!!!111one
In short, the exploit allows people to upload any file to anywhere on the machine.
From a GMod perspective - You could put a lua script to make everyone who connects download the entire contents of the gamemode folder.
Non-GMod perspective - You could upload a malicious executable into the computers startup folder, potentially allowing someone to seize control of the server.
The exploit also allows you to delete files from the target machine, so someone could quite happily destroy the operating system and render the machine useless for a time.