Is there really a point to it? From what I understand: You can add red boxes, move them around, or delete them and that's about it. Does it affect the AI or You in any way?

It's not fully implemented yet, basically it's for when Lua is further integrated and we can make our own scripted campaign missions. For example there's a zone in the tutorial level that activates the dummies to attack you when you enter it.

you use it to make areas that are referenced in the lua code that we can already write for campaigns.

Open up the tutorial mission in it. Take a look at the giant box.
Then, play the level from the campaign and notice when they get activated.
Finally, open up the Lua file and take a look.
There you go, that's what it does.

You can also just manually define them which is generally faster.

as is most things to do with editing these days.
bloody gib editor wants you to stick everything in its own group.. ><