[Tekahera]

I get the same feeling as you. I only recently discovered HN and at first I was put off by the large amount of noise. After sticking with it for a while, I now get a better feeling for what's worth reading and what doesn't deserve a second glance. Like you say though, I'm sure somewhere, well guarded from the unwashed masses, there's an utopian community of smart people having smart conversation, much like how RoG describes the early HN to have been.