HN is a pretty high trust site, I'd hope the community is still mature enough to self-moderate. Then again I was here when Terry would post his (admittedly) entertaining rants, the epic Michael O'Church essays, and flamewars between idlewords and pg. Maybe it always allowed for a little bit of funposting, in moderation.
A brilliant idea some startup accelerator in the EU can create a platform that conforms to EU laws. It can't be that hard, given that the UI hasn't changed much in a decade or more. I can already see it "Hacker news, but hosted in the EU with Swiss privacy and is GDPR compliant".
If it's not possible, I'm pretty sure this site is breaking the EU social media laws.