I agree that the current system is reasonably good, but how and why it works is cultural. That means that as HN gets more popular it will work less and less well.
I'm frequently mystified by why a comment gets down-mud, and wish desperately that there were a simple mechanism for people to tell me why. I have no complaint, I accept that someone feels the comment should be down-mud, but I'd like to learn why they feel like that, and what it is they think I got wrong. Maybe I'll disagree, but at least I can learn from it.