It still does - the point of specified world exits is simply so the server knows which gates to add to the database. Right now this is only needed for backtracking, but at some point the server will start to analyze paths - where players entering one gate tend to come out, where they are prone to get stuck and/or quit.
Worlds will be classified under pseudo-categories like Hubs (many exits, players tend to return often and leave through a different exit), Roads (a small number of exits, players tend to go back and forth), and Dungeons (one exit, players tend to enter and return the way they came after spending a fair amount of time inside). It will use this information to construct more stable pathways (hub-worlds will have dungeon-worlds branching off of them, and will be connected to each other by road-worlds) and even procedurally generate quests.
Of course you can make a Gate that simply goes anywhere, but even now there is some streamlining involved. Walk gates will try to connect to other walk gates facing in the opposite direction, ground holes to sky holes, and teleports to teleports. The algorithm also tries to ensure that backtracking rules line up (if you enter a non-backtracking Gate, it tries to put you on a Gate that does not allow exiting). And tags are also used to find appropriate locations. There are too few public gates right now so it appears mostly random, but as more areas are added it will become more coherent.
I'm also going to add a popup that lets you see the details of gates that have no unique "ideal" destination - i.e. "in demand" gates, in order to give world builders ideas. For example, "Gate Request: Walk Gate entering North with tags: Swamp,Village" if someone makes an exit that requests such a destination but none exists.