I don't care about karma, "hellbans" seem like a mean waste of a person's time, and the thought of HN as a rolling job interview for "the cool kids table" actively discourages me from participating.
Sure, the "interview" aspect helps them find people who are skillful self-promoters/developers, but honestly, as a user, wouldn't you prefer to keep the self-promotion to a minimum?
When I see my 18th front page "HN: Flavor of the Day - Me Too" or "Lorem Snowden" post, I start to long for the days of pre-Twitter F/OSS "Planets".
Planets where dev, ux, design, and business people came together to talk about what makes technology, projects, and people tick. I learned more about how to treat people and run a project from early to mid-2000 era http://planet.gnome.org/ than anywhere else.
There will be another HN, but it'll most likely have a very limited scope and come from a place of genuine enthusiasm.