Yes. The site is fast, using it is fast, the information is clear. It performs the function it sets out to perform very well.
Is it a strength that the feature set (mostly) hasn't changed?
Yes and no. It's mostly a good feature set for me, but I know plenty of people who don't use HN, and who could potentially be in the target market. HN does not need to grow, but the realities of business is that most companies do need to (HN obviously not a company itself), and so it is generally good for new users that features are changing in order to grow as the product is theoretically more applicable to them.
There's another aspect that you touch on with the algorithmic timeline argument. Services we use are becoming smarter, and for the most part people like this. Search is a good example of this, HN's search is basic keyword-based search, and I find it practically unusable because I don't always know the right keywords. A significantly smarter version, of the calibre that FAANG style companies could put out, would be great! Of course it would take more effort than it's worth for this user base to create it because investment like that only makes sense at scale.