The other thing you said partly true -- in the beginning the founders had about 100 accounts that they posted with, but there were no comments back then. There was never fake commenting, and the posts weren't "fake" either. Alexis would scour the internet all day looking for interesting things and then posting them with random accounts, as would Steve.
So if anything Alexis and Steve were just really prolific users.
But the site was self sustaining by the time comments launched. ie. There would be fresh content even if Steve and Alexis didn't post anything that day.