I would encourage dedicated readers here to aggressively and persistently discount the value of HN as a tastemaker and trendsetter.
HN is actually a trailing indicator on tastes and trends, essentially by design. Things only make it to the front page if they get submitted and voted upward by a large number of people. That means it’s all stuff that is public and seems cool to a bunch of random people browsing a website. Not exactly cutting edge.
Basically every community, online or not, over-indexes on its own importance. Like how random small towns can get so worried about international terrorists targeting them. To folks who love HN, of course the great forces of the world would be attracted to compete here. Look how obviously awesome it is, right?
Paul Graham said HN was set up on the theory that it would efficiently surface great ideas and entrepreneurs for Ycombinator. Needless to say, that did not pan out. (How often do you see PG or any YC leadership here anymore?) Honestly I am mystified as to why YC continues to operate it at all.