The base does not do all that much. It holds Ethernet, audio jack, and USB power plugs, along with a steel plate for heft.

Note the attention to detail: there's a second PCB board for no apparent purpose other than making the audio jack line up with the USB jack. That's obsession!

The little chimney is, in fact, a chimney. The idea is that hot air from the electronics rises, drawing room air. This is an older approach (see grated US patent http://patents.justia.com/patent/6347747 ).