It's definitely taken a dive recently. There wasn't even enough momentum to bin the kennedy story the other day, and there were people even defending the post! The signal-to-noise ratio is the most important factor of a system like this, and there is zero value in the site if it degenerates into the same gray goo that has consumed everything else.
It is a political trend that has been going on for many years, and is unlikely to change any time soon. What's even less likely is that the discussion here will produce any new insights or solutions.
Sure, the story itself or some of the arguments in the comments might be news to SOMEONE, but I'm not convinced that's a good enough justification. This is precisely the kind of conversation - emotional, low barrier of entry, "common sense" outrage, the same points being endlessly echoed - that makes Reddit what it is.