The answer is that HN is for curious conversation on topics of intellectual interest. Does that involve being wrong sometimes? Of course it does. It would be absurd to ban people simply for being wrong. Moreover, even if we wanted to, we couldn't, because we don't know what the truth is on every question. (Some internet commenters appear to believe they know the truth about everything, but we are very far from feeling that way, and don't have a truth meter* to tell us.) Moreover, even if we did know the truth about everything, others would disagree, and trying to impose the truth on people who disagree would create a firestorm that would easily destroy the community.
The idea is in fact so obviously absurd that when people make this complaint, they can't mean it literally, and so must really be complaining about something else. Since I don't have a mind reader (or a truth meter), I don't know what the real issue is, but based on observable behaviors, it seems most likely that they want the mods to boost everything they agree with and ban everything they disagree with. Since each person has a different set of what they would like to see boosted and banned, this is impossible; we'd end up having to boost and ban everything.
* https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...