As this NYT article summarizes,
Freaknik was a party in Atlanta in the springtime that involved very large crowds of young people, almost entirely black, taking over the streets and having a festival. I was myself young and in Atlanta during those years, and I attended one once. From what I saw of it, it was mostly just young people hanging out, doing drugs and drinking while driving, and generally using the mass of the crowd to violate the sorts of laws that restrict young people from such things.
There was definitely an element of racial pride at work. Several people expressed to me that I wasn't safe and ought to leave right away, although in fact no one attempted any violence against me. It was clearly in the air, though, that this was a black festival, and that they were the ones who had the power to take over the streets for a while and do what they wanted there. Again, however, no one made any sort of attempt against me; what I received there were warnings that I wasn't safe, not acts of violence.
I've been to a few things since then that had a similar kind of lawlessness, but without the element of race. Large enough crowds completely overwhelm policing, and tend to produce liberation from ordinary bothersome laws. I've always enjoyed those occasions, though being so liberated I don't find that I actually take any liberties. I like the feeling that comes from the recognition of being free, and being free I do what I want -- which is what I do anyway. I like the absence of law, but not because it changes my behavior.
In any case I didn't have any bad feelings about it. Just kids having fun, as Crocodile Dundee said.
UPDATE: If you can’t read the article because of a paywall, its major theme is that the once-youthful participants are now 30-40 years older and quite abashed about the whole thing. A new documentary has them worrying about how they might have been caught behaving in that pre-cellphone era when people didn’t expect to be on camera. Now older and respectable, they look back on the event being revealed with trepidation. That’s charming, in a way.