This stream has been around since June 2020, the oldest images that still exist here are from July 2020.
Every two months, various IMGFLIP_PRESIDENTS parties will have two users run as President/VP and maybe another user from the parties will run for Head of Congress.
I've been participating in this stream since the beginning, was elected VP of the Opposition Party™ in October 2020, ran twice unsuccessfully as VP candidate for the PEPE PARTY April and August of this year.
It's just for fun, there are probably some users who take it a little too seriously though. Also, this stream has a history of attracting users that break the Terms of Use, so some of the sitewide Moderators sometimes pitch in publicly and also behind the scenes to help the stream and the Stream Owners. Some users appreciate that, some don't :)