I just read it and agree that some fanfics are awful, but there are a lot out there which are amazing too. I don't think it's a waste of people's efforts either, there are far worse hobbies out there! I bet there are loads of writers out there who started with fanfics. Before I discovered fanfics, I hadn't written anything since I was a kid, and it's something I enjoy in my free time, it's not harming anyone.
I have no idea what shipping is.
I've not read/written in many other fandoms as I don't have the passion for it like I do with BSB. I've done a BSB/Supernatural crossover, a Twilight one shot and a few Take That stories. But I have read a few Twilight ones which were far better than Stephenie Meyer's stories. I do love Twilight, but parts of it I wanted to shake Bella.