Interesting that you like it, personally I couldn't seem to find the "good" content. There are always a huge number of chats going on and it feels impossible to figure out which ones are the interesting ones. Also, after following a few people the number of notifications was so high I had to turn them off. But without notifications how can you know what is going on?
I would assume the discussions are better because they are smaller. Has any online community managed to maintain quality discussions at scale?
Are you speaking about any medium of discussion? If so, Hacker News is a great example.