Depends on the time. For example, if a tracker like HDBits goes down, I'm stuck looking for both, a community, and content. If a tracker like GFT goes down, I'm stuck looking for purely content. If both are up, then for the most part, I'm content. This is not to say I wouldn't join a tracker, I sometimes do, and sparingly regret not joining said tracker earlier.
Primarily, I join trackers for content, as I'm sure a lot of people do the same. Since summer has just started (university's out, yay) I've been job hunting, and there's this one guy hiring a website coder/designer (I'm no prodigy, but I have style), so as of late, I've been collecting the sort of material that would help me do that work promptly, and while TPB is a great resource, I'm not going to wait on a torrent for a week to end up downloading. Now, for a person in my position, the last thing on my mind would be the elitism of the community, rather I would chase after how much its content has been hyped.
Not all the leetness factor works, or we'd have thousands of people flooding this place looking for WDMA trackers, which to my understanding, you only have a chance getting into if you were part of the original WDMA. Similarly, not all the "ease-of-getting-into works", otherwise most people would be happy with their IPT/TL fix. Whether people would agree with me or not, we all want to "feel good", and that sparks people chasing FTN, or people chasing WDMA the same. I remember posts on ScT like "We're the kings of the internet" were not uncommon, yet people enjoyed the place (and so did I); because not only did we get the files we needed, we also got a little bit of elitist exclusivity along with it.
That given, I would be especially surprised if anyone could, without even hesitating a little bit, say they would ignore one/more of the options you listed. Maslow's theory/laws apply here. People just need to satisfy different levels of their private tracker needs at different times/intervals. Hierarchical speaking, I'm sure content would be one of the lowest needs, while others like elitism would be one of the highest.