DEBKA is actually a research project being conducted by a student trying to earn a graduate degree in sociology at NYU. What he is trying to establish is what are the lines exactly of absurdity beyond which a pseudo news organization can posit "facts" and still be considered credible.
People who visit it's site on WorlNetDaily are actually tracked via their IPs and research is being done on the social tendencies and patterns of the people who actually seem to believe this stuff.
By the way, "DEBKA" stands for "Did Everyone Buy Karen's Apples?"