Not that anyone asked, but I'll chime in here with a nice broad unarguable blanket statement:
Bonfire meant something different to every person who directly or indirectly participated in it.
By and large the perception is that for those who didn't build the hell, it was just a tradition like midnight yell or pond hoping - something that was unique and fun but that the absolute quality of Texas A&M didn't rely on. It was another in a long string of traditions that added to the environment and could be easily explained away as a "burning desire to beat the hell outta t.u."
For those that were out in the woods and stacking logs it might've been about beating texas, but it was probably more about keeping A&M traditions alive, and for most it was and always will be about the camaraderie. Probably a couple guys felt like badasses swinging an axe, not to say any of those are mutually exclusive.
At the end of the day the only other tradition that Bonfire can really be compared to is, at least in my mind, Muster. And the lines between the two have blurred somewhat since '99. Prior to then you could argue that Bonfire in the Fall and Muster in the Spring were about celebrating life and recognizing the loss of it, respectively. These days it's less simple. There are 12 granite and bronze doorways that stand testament to the fact that since '99, Bonfire can't just be about beating texas.
If an endeavor that has claimed lives is to be continued, a higher reason than a sports rivalry has to be purported. And you see that reflected in opinions across whole generations of Ags. For that reason I think its safe to say that there has been value in building Bonfire for a long time now, and that alone is reason enough to continue on.
If we need the symbol of the paint color on the outhouse to hide behind, then we're missing the point entirely.
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Cledus, I was a fish in '06 too. Doing grad right now as well. Glad to know a couple of other old sobs are still kicking around campus.