If people could invent better moderation over nntp... it looks like people were looking at it even in 2010: https://tools.ietf.org/html/rfc6048
I really loved Usenet when I discovered it (I never posted though.) The moderation capabilities were not well developed, but it was way more client-centric and decentralized.
I wonder it there's a market for a modern reboot of usenet.
Just make sure you stick to alt.*, because of those fascists who control RFDs.
If someone could figure out how to efficiently implement voting and moderation on Usenet, they'd have an excellent distributed replacement for reddit.