I understand the comparison, but the FSF can exist without RMS. PG on the other hand solely supports HN, I doubt he would continue to pay for a site that vilified him.
There are many firms where the owner is never present, but all employees know not to cross them. (E.g. Washington Post & Jeff Bezos).
So the fact that PG pays for it doesn't mean much. If the community decided to no longer be under his care, they could easily find a replacement model or benefactor and they're more than capable to arrange such an uprising/migration.