The only thing not "old" about it is upvoting, which is one of those YMMV features.
It gradually became a comedy website and at that point I stopped visiting it.
This one is almost gone already.
But I understand the OP was talking about how HN is today.
But now I think that downvotes have just kinda become a sort of digital tomato for people to throw, a means of burying a post without putting any thought into an argument as to why the post is illegitimate.
And that's the best case. In the worst case it's a really easy system for bots to game. You don't even need AI. All it takes is a bunch of accounts "legitimate" enough to not get flagged by whatever botting heuristics the site implemented and you can produce a false consensus.