I too, do not like this trend. Does the average consumer (statistically)?
Our analytics and testing have indicated that there's a direct correlation between how visual (versus textual) our presentation is and how well it performs. Personally, I prefer a much more linear and text-heavy presentation (I spend all day on HN!), but our core audience is apparently different from me. Over the past couple of years, our audience has grown to be much more general and less tech-oriented (as I'm sure many HN readers have noticed), and the new design was done with that in mind.
I didn't like it at first, but it's grown on me. The article pages are much more "traditional" in terms of presentation, as well, which helps (and yes, I know you can't see them right now; sorry!)
At the end of the day, advertising pays the bills, so we have to figure out the right balance there. Initial feedback from our advertising partners has been very good, though, and we'll be watching it closely, because...well, we like being able to pay rent. :)
We went the fluid route to try to accommodate as many screens/devices/orientations as possible without wasting a ton of space; a more rigid design is definitely sharper (and frankly, would be easier to produce), but we're gunning for a design that works on just about any screen size or aspect ratio, and found that rigid designs weren't cutting it.
Totally fair if you don't like, it, though. What would be the first thing you'd change?
(I don't lead design, so it's not my call; I'm just curious)
Speaking to the redesign… I agree with what others have said… what am I supposed to look at? Everything on the page is calling my attention. When I scroll up and down, I'm not sure if I missed a box. It also seems that the page should be flipped, larger squares on the left, smaller on the right.
In contrast with the current design, when I scroll down, I immediately know if I missed a post when I visited 2 hours ago.
To be honest, if your traffic/engagement numbers go up, who the hell cares :)