Adm is not Hivewatchers' account. It is an account donated by stakeholders to help fight abuse.
Why would "stakeholders" not simply DELEGATE HIVE TO ACCOUNTS THEY SUPPORT?
It seems strange to create a high-powered account that multiple users have access to (allowing them to act semi-anonymously on a supposedly transparent blockchain).
The account use was in before delegation.
Ok, interesting it hasn't been retired now that it's redundant.