I am not trying to figure out all the variables. Also I am not spending too much time trying to figure out "how to make it on HN". I can just go back to doing the same thing I used to before--post on HN, share the post with friends (probably post on Facebook or Twitter), and it will go up on the front page. Again, I'm not so worried about this.
Here's what I think: I think Hacker news is the only influential site that functions as a place to help small but interesting projects get discovered in a democratic manner. You could just email about your startup to Techcrunch,Mashable,The Next Web, et al., but you still need to pass through their editorial filter.
What I find intriguing about Hacker News is that the filter is democratic (and focused on Startup culture), and relies less on social proof. A lot of companies get multiple coverage on larger tech blogs because they have funding from famous VC and angels. With Hacker News, you don't need social proof. You just need a good idea and good execution, at least this is what I want to believe.
As I said, for "the people in the know", HN works differently than the rest of the world. A lot of people post on Hacker News "hoping" to reach the front page, but for example the guys at YCombinator (or entrepreneurs who are their friends) don't need to worry so much about it because they already have enough karma to push their post up to the front page. It's almost taken for granted.
Well that's how the world is run, and that's why being in Silicon Valley is so attractive, but I think Hacker News provides a platform that's larger than that, and just wanted to know if any counter examples exist: Just a small startup out of nowhere posting on HN, and getting huge traction.