I agree that there's a problem with fads and jealousy but I disagree with what that problem is. I think the jealousy comes from us nobody's and not the stars. It's the proletariat, so to speak, that are jealous of not just the stars but anyone who has the guts to put something cool they made in front of HN.
Fads again are just what promotes groupthink. Why does everyone on HN love Ruby but most people outside HN don't have any strong feelings for or against it? Because it's trendy. I work at a company in Chicago where we run our sites and apps on either Java, PHP, or Ruby. No one in the company ever looks down their nose at anyone else not using the language their primarily working with because that shit doesn't matter. The fads on HN aren't real. They're specific to HN and possibly Silicon Valley but people talk about it here as if it mattered somehow.
Overall though, you nailed it. And your very last line definitely holds true.