Its certainly diluted, but to be honest unless I am applying to the latest YC batch or starting my own company I don't care as much, most of that talk is fairly standard after you have heard it a few years running. While most of it is genuine, it can get a overhyped/inauthentic at times.

I like the more relaxed atmosphere, but would like to see more interesting technical articles getting to the front page, and less repeated news things being cross posted around the internet.

Spending a bit more time on /newest is probably a good idea.