Flagging is frequently used to kill topics still. Climate change articles are still flagged mercilessly, before any discussion starts and without regard for the high-quality of the articles.
dang as a moderator has specifically said that articles about Russia hacking elections are penalized prior to any votes or comments starting (edit: I believe this particular issue is done by the 'moderators' themselves manually or through a filter, not through user-flags. they are not just moderating discussion, they are filtering which topics you see in the first place, on their own).
The discussion here is framed by people who do not want to talk about certain interesting Hacker and Startup related issues, like global climate change or the stability of democracy with technology.
Flags are a common tool used by the community here to shape the discussion before it starts, hiding topics entirely from view that the community would otherwise vote and discuss.