Fair point on being too easy to produce content, yes, can lead to lots of noise.
I think many people listen to people talk, especially at conferences. Imagine a panel discussion: if one is not in the first few rows, the visual info is quite little (can't see facial expressions much) and so it's mostly audio.
I guess for me, I like listening to live conversation, where it has the unpredictability of where it will go. I like to watch live interviews on TV and yet believe that many of them are stale, scripted, and too short, vs CH which yes can be stale but rarely feel scripted or too short. What I like about interviews or live conversations is that things may arise that one wouldn't think to produce without the external stimulation.
I wonder if it hasn't succeeded before because it didn't have the initial crowd. CH is basically just group conversations and if I go to a party where I think the people are not interesting (or more so, famous), I may not be so excited to talk/listen. But if I go to a private party, almost like going to a TED conference, I'm quite interested to hear those people talk to each other and myself try to contribute if I can. That's what it is, based on the audience it initially curated, it kinda felt like being at a TED or other similar conference. I wonder how that changes over time. But still, it lets ad-hoc conversations arise, sometimes with combinations that have not really happened on other platforms, e.g., Shane Battier, former NBA player, asking a question to Chris Voss, former FBI hostage negotiator. Again, sometimes the interactions bore me, but sometimes they thrill me, and that feeds to the variable ratio reward addiction mechanism of the app.