Not that interesting a place really other then a certain person that you can redeam codes for things like mounts and vanity pets and other interesting stuff that does nothing really other then look cool.
Though if you do visit Booty Bay you have to stop by the pirate vender for birds!
After a day at the Bay as you wait for your boat back to Rachet you might see the goblin-esk WoW take on the "Christ the Redeemer" statue! LOL!
(pic from the other side facing Booty Bay's bay)
Real thing so you get the full reason that it is funny.
Whelp that was a interesting way to spend a Saturday.