A surprising piece of code found in some program. While usually not wrong, it tends to vary from crufty to bletcherous, and has lain undiscovered only because it was functionally correct, however horrible it is. Used sarcastically, because what is found is anything *but* treasure. Buried treasure almost always needs to be dug up and removed. "I just found that the scheduler sorts its queue using bubble sort! Buried treasure!"
There were rumors that Schmidt was motivated by buried treasure or another secret of the mountain, but they were never proven.
Fans and novices soon became swept up in the movement, tracing each work like buried treasure.