I used to think similarly about this to what you express, because I've always enjoyed reading about the sort of discourse in which devastating wit is exchanged. But eventually I realized that it doesn't translate into this context at all. This is a case of 'the medium is the message'. When you have millions of people who don't know each other all potentially interacting at the same time, the dynamics are so different as to be incommensurable with, say, small debates, literary journals, elite social events, and other places where the groups are small and highly cohesive. Here are some previous explanations about this:
https://hn.algolia.com/?dateRange=all&page=0&prefix=true&sor...
https://news.ycombinator.com/item?id=15378909
https://news.ycombinator.com/item?id=9378899
https://news.ycombinator.com/item?id=7906377
https://news.ycombinator.com/item?id=7742471
The bottom line is that having a forum like HN be open to everybody comes at the cost of some blandness.