It doesn't have any pressures to make money, in fact it's basically a free place for PR and advertising jobs for portfolio companies
HN is somewhat unique in its lastingness, and seems to have found a sweet spot in growth rate over the years that allows them to stave off the 3 things that will kill a website like this: silence, negativity, and grift. Most websites are so scared of the first one that they'll compromise on the second and third. Moderation is hard. Surely a large of dose of luck is also involved.