Is there such thing as "paper dump conference"? If yes, what actually is it?

A couple of weeks ago, out of the ordinary, I was in the company of a few academics from respectable universities. A graduate student mentioned that he was invited to something called "ICIT 2015" to present his Master's thesis. One of those professors said something along the line of:

If it is your first attempt at publishing something, then go for it. However, I usually highly advise against attending such events to present your papers. They're nothing but paper dumps. Within the time frame of two days, nearly 1500 people are expected to present their papers. You're given 10-20 minutes present your work to 1-2 people and have your picture taken. These events are merely created just so you can say and put on your CV that you've spoken at a conference and published a paper. Most of the time, the review process is horrible, and the PhD-level papers can be barely accepted as Bachelor-level theses in any respectable university.

Immediately after he finished talking, two other professors agreed with him and shared a couple of anecdotes on that particular conference and another one.

I looked at the conference's website, and it seems to confirm some of what the professor had said, but I cannot find anything on the review process or the "quality" of the papers.

I spent quite a bit of time trying to find any reference to such "paper dump conferences", but I had no success. Were those people just being snobs or is there some truth to what they said?

Disclaimer: I'm very far from academia and just looking to learn more and understand this a little better, so excuse me if it seems like I have no clue what I'm talking about. Also, this "paper dump" might have another name in English as I'm providing a direct translation from another language.