I believe Peretti has made repeated claims dating back to the founding of the company that this was the plan. Either he's committed or doesn't want to be legitimately called a liar :-)
All joking aside: so far they've done good work and I assume it is earnest.
Well, to be fair, clickbait and yellow journalism far far predates Buzzfeed (e.g. Hearst's apocryphal "you supply the article and I'll supply the war"). And the muckrakers were also click baiters.