First there was Slashdot, but CmdrTaco insisted on picking the stories for us. He called it an "omelet". Kuro5hin came along to fix this, but discouraged posts that were just links to pages elsewhere on the web. IIRC, this was called "link farming". How many users had the talent and time to create original content, and then survive the ridiculous Kuro5shin editing process? Not many. Digg then encouraged links, but sh…
Except that Reddit is gradually turning into 4chan. Every time I see /r/all, it's a little more mean-spirited, a little younger, a little more toxic. Outsourcing moderation and libertarian ideals all sound nice, but when the rubber hits the road it gradually chases normal people away. Reddit just did it it slower because the strengths of their platform and content overwhelmed it... but it's getting there eventually.
I generally unsubscribe from all of those defaults (except maybe /r/WorldNews) and almost never look at them, have some lists of subject related sub-reddits I like (ex: tech). There are sub-reddits that have communities in them I haven't found a replacement for elsewhere aside from maybe some private FB groups. There is something to be said for exclusivity or staying obscure. For every /r/The_Donald there is a /r/Sweden, or for /r/SRS and /r/RedPill there is /r/TwoXChromosomes and /r/AskMen. You aren't going to read about the good communities in the news, as polite people having interesting level headed discussions rarely makes headlines.
To me Hacker News is just another sub-reddit like site. I usually see the same links posted in my sub-reddit's as I do HN, and I'd wager the discussion is sometimes better in the sub-reddit's than it is here, it's at least on par.