Strongly agreed. 95% of the web's problems can be blamed squarely on advertising-based business models. HN does not have ads, so the focus is not on getting more users and clicks (i.e. generating outrage), and the excellent moderators are quick to punish harmful users, because there is no motivation to keep them around.
It's very simple once you stop chasing growth and engagement metrics. The main reasons the other social media platforms are cesspools is because outrage generates engagement so the platform is designed to encourage it as well as encouraging users to join and stay regardless of the quality of their contributions, where as here the design itself acts as a small barrier to entry, in addition to a karma system and competent, human moderation that discourages (and eventually bans) bad behavior.