Edit: I had myself convinced that comments have a different ID space from submissions, but that obviously isn't true. I've partly rewritten to correct for an over-guess on how many new submissions there are each day.
I agree with your general suggestion, but just want to highlight that scale issues still make me think whatever finds traction on HN is a bit of a crapshoot.
It looks like there were over 10k posts (including comments) in the last day, and the list of submissions that spent time on the front page day yesterday has 84 posts. I don't how normal the last 2 days were, but by eyeball I'd guess around a quarter of the posts are comments on the day's front-page posts. This means there are probably a few thousand submissions that didn't get much if any traction.
Any time I look at the "New" page, I still end up finding several items that sound interesting enough to open. I see more than 10 that I'm tempted to click on right now. The current new page stretches back about 40 minutes, and only 10 of the 30 have more than 1 point (and only 1 has more than 10). Only 2 of the links I was tempted to click on have more than 1 point.
I suspect that there's vastly more interesting stuff posted to HN than its current dynamics are capable of identifying and signal-boosting. That's not bad, per se. It'd be an even worse time-sink if it were better at this task. But it does mean there are pitfalls using it as a model at an even larger scale and in other contexts.