When one builds a Product Hunt (PH) alternative, one needs to remember that PH succeeded because of Ryan Hoover. Just as with any new Startup App/Website of that time, it was not fancy, interesting or likable at all. Ryan’s shouts, marketing, and his everything everywhere all at once presence made PH. When I think of PH, I remember his avatar (profile picture); that 'P' reminds me more of Pinterest than PH.
PH is a successful directory-listing-ish website, there is always a limit to its success. Ryan, being a super smart founder, realizes that and moves out at the perfect time at its super-high hype cycle.
All PH-esque clones can focus on specific niches and become good lifestyle businesses. Like other business ideas, shred apart Craigslist and build PH of them.