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Many people at the panel said that waiting in line was the best part. I mean, you leave a bunch of 4chan kids alone for 3 hours and tell them to entertain themselves, obviously something good will come from it.
I honestly believe that a 4chan con with nothing more than, say, a dozen rooms - an /a/ room, a /v/ room, /h/, /co/, /tg/, etc rooms, where people could go mingle/cause trouble would work really quite well. Let people schedule panels for them if they want, but do it in a less strict way than, say, otakon.
I mean, sure, some planned events would be needed, but honestly 4chan people are pretty fun loving and I think we could entertain ourselves pretty well for a few days. Shared culture, etc.