Good moderation can increase the signal to noise ratio immensely, but also increases the latency. I vehemently disagree that Reddit is in any way even approach

Good moderation can increase the signal to noise ratio immensely, but also increases the latency. I vehemently disagree that Reddit is in any way even approaching equivalent, much less better, than Usenet was. There's something about the text area, vs an email-like posting box, which encourages low-thought short replies.