Think about it: you work on a game as a manager, and are able to keep your staff of young teens focused on working on helping create the game instead of playing said game. That's an accomplishment right there.
Also, moderating conflicts between staff isn't always the easiest thing (I know I've had enough trouble with that...) and is definitely noteworthy.
While I don't think working on graal could be seen as community service, it is most definitely worthy of being called experience in whatever form, be it management, programming, graphics, sounds, 'virtual world creation,' etc.
I used the management experience I gained from working on Babylon in an interview for a position as team sales leader ( i can't remember the exact title
) for Vector Marketing several years back. got the position too