It is owned by a Silicon Valley VC giant, while not directly media it is steered by big money. However I think HN is moderated relatively well, but I can see how some people might think it's being gamed/controlled/censored by self interest (I don't)

Sure it is, it's owned by the people who own (or initially funded) the social media giants.

I think that’s the wrong question to imply. What it is is an illustration of how big media behaves due to its own implicit ad well as explicit biases. Of course HN isn’t mainstream, but it also experiences some of the same symptoms.