Broken or as intended it is clearly false, I believe it works on a tick count idea.
The last 24 hours I ran a controlled test, 4 characters online for 24 hours in a parcel.
Just now the results our traffic for the last 24 hours came up, 3200+
This is a total misrepresentation and is more like hype.
The current system encourages camping chairs and camping dance poles, which means anyone who lives in the same sim as a place trying to raise its traffic suffers lag and resource usage.
Would it not be far more fair and less open to abuse if something like the following was implimented.
Unique traffic, as in count a person only once in a 24 hour period (this would give a more real indication) and lessening the use of camping chairs.