I think at one time they were planning for some DLC to be beyond that area. However that is a lock that can not be unlocked in the game as there is no key for it.
If your on the PC you can TCL (toggle collision) and walk through it, but there is not much to see on the other side. I do know of a couple of mods that put content on the other side of the fence.
It's now used by Lonesome Road to access a new area but only by completing the DLC a certain way...
That might be why the gate never changed for me, as I could never take that option....