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1.
1) something that contributes little to the flow or progression of a game and is meant to appeal to the lowest denominator of player skill on a public server
2) behavior exhibited by anyone who advocates game design that encourages players to remain stagnant at the absolute lowest levels of skill
3) a player that chooses a playstyle that exists at the expense of furthering the progress of the game
That pubtastic vehicle was all nice and shiny but completely worthless

Newbie was pubtastic.

Little Johnny decided to sit in the corner firing his weapons wildly at nothing rather than actually do something to help his team.
by Edward Nigma August 28, 2007
 
2.
Combination of "public server" and "fantastic".
The word is used for items or features that greatly improve the gameplay and balance in online multiplayer games.
"Man, that Orb in UT3 is pubtastic. It'll help the losing team to quickly get back into the game again!"
by Jrubzjeknf August 29, 2007