IMHO the "benevolent dictator" style works better. People on 4chan complain, sure, largely as a consequence of no upvotes and complete anonymity from other users. But they also mostly just "make it work" when it comes to classifying content. On the tech board /g/, there's a surprisingly diverse stream of content that makes its way through. Because there's only one /g/ it all fits into one melting pot and the community is more vibrant and diverse as a result.
I think the same happens here on HN. A lot of different people with different tastes frequent this site. If it was simply "news for startup founders" or "javascript framework news" it would be a lot less interesting.