Contrasting this with moderation and comments on HN and well run subreddits is instructive. Those sites aren't perfect but at least they recognise the value of comments, and that some commenters will know more about the story than anyone, they might even be involved in it as witnesses or protagonists, as opposed to journalists who typically know very little about a subject. In addition your readers can be the best moderators if you empower them and keep steering them with a light hand. The guardian lets readers vote up only and then does nothing with it.
Maybe it's time for a new kind of journalism without journalists or ads, with a focus on primary sources, and empowering interested communities to report and verify for other readers. It's unlikely to emerge from old media though.