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I'm one of the new hubskiers (is that a thing?) that found out about it from a post over on reddit in /r/theoryofreddit. And honestly, I'm pretty weary of reddit after about a year of redditing. I think the lack of moderation in the default subreddits is a big part of it. Absolute freedom combined with the karma system is causing the whole thing to placate to the lowest common denominator, except on subreddits with more moderation. As a new user here I don't know if I can judge whether or not mods are a good idea yet, but if it really takes off like reddit has, content could go downhill fast.