Everything you described makes this public offering a potential bad thing. Whats going to happen when activist investors want a certain subreddit/post removed? What about ad companies not liking some content/subreddit? Moderation is going to get very strict. The relative anonymity of reddit may disappear. We have already seen the establishment supposedly co-opt the big subreddits like /r/politics. Now they will focus on snuffing out all the little guys on the platform. Everything you listed as a positive may disappear over time.

HN might become what Reddit is now. On the flip side the difficulty of removing posts here/simple upvote system/other limiting features may prevent that from ever happening. There have been attempts to clone Reddit, all have been terrible. Its clear that to create an equivalent, its going to take more than a weekend project.