There is definitely a flipside. I wouldn't be nearly as up to date with tech if it wasn't for HN, and last summer I managed to get an internship at a startup that I would have had zero chance of finding had I not seen them in a "Who's Hiring?" post on here.
Oh definitely. I would just argue that you had to dig through a lot of posts that were less-than-beneficial and that a filter for an "Ask HN" would have been more worth your time. And that is just one form of curated content that I was mentioning.