I had to learn about the group behind the site to understand. I still think that calling it "Hacker News" will prove misleading for some, but I've long since become used to the theme of this site.
If it was called startupnews, everyone would complain about the technical posts.
"Hacker" news seems to not even be the second most popular topic of discussion here. Startup crap and politics shit both do a great job of drowning it out.
Then you have the always creepy "article about steve jobs' personal life, which has absolutely nothing to do with computing or even his business"...
In the world of the internets the most commonly associated meaning (rightly or wrongly) of the word Hacker is for computer nerds.
In that sense "Hacker News" has nothing to do with hacking, Startup News is more apt description of this community.
HN has always a lot of interesting stuff that has nothing to do with startups. E.g. general CS, psychology, physics ans so on...
Hacking really means going against the status quo, and that's a different thing altogether.
Example: building something like Facebook is not hacking. That's just good engineering and opportunistic use of human nature.
The simplest test you can have to call something a hack or not: did other people laugh or got angry when hearing about it?
Of course you can still call yourself a hacker, for feeling good and all that, but I like how ESR puts it: you're not a hacker until other people start recognizing you as one.