Subjective questions such as yours are quite uninteresting in their own right.
Maybe people are just now getting back on their feet from Summer break, maybe no interesting stories are being produced because they take time, maybe it’s because of AI and people are feeling in a slump. It can be a million different things.
Personally, I haven’t noticed a difference but maybe that’s because I have no expectation for the type of stories that get on the front page. If people are commenting and engaging in a discussion then it means it’s interesting to some, and you can’t ask for more than that.
Is the problem that, after ~6 months on HN, the novelty of things has dropped from your now-more-experienced PoV?