Now, I think it has become too large and feels anonymous. Posting something offensive has no cost because it doesn't feel like a "know your neighbor"-type community anymore. The costs imposed by karma seem to be less significant. I even think that if you post a rude or ideologically motivated comment, there are other rude people who will agree with you, attenuating the negative signal.
The HN is turning to reddit mime is genuine. I think it's just a consequence of having a very large community. Although a lot of HNers may disagree, I think the herd must be culled. I'd be happier of participation was limited. If I was the benevolent dictator, I'd collect a list of people whose contributions are most valuable and remove everyone else. Then, give those high-signal / low-noise contributors the ability to invite other people. Continue to have all content publicly readable, but ration the writes.
(Disclaimer: Although I have many doubts, I do believe it is possible to have an HN-scale community that remains civil; however, without the data, I'm not very comfortable just enumerating implementation ideas.)