Honestly speaking, there has never been a consensus on what is "good" or "valuable" in terms of blogging.
The value of content is actually black and white.
Does it make money? Yes or no.
Just none of the front-ends choose to monetise their content and the DHF continues to subsidise the garbage we see now.
There is no good and bad, it's only the network effect that makes any of it valuable at all.
I still see it as a loss leader, getting new people in the door and keeping them here. If Metcalf's Law has anything to do with the price of Hive, then this should translate to value.