In the case of a story like this, which has significant new information (SNI) [1] on a major ongoing topic (MOT) [2], and at least some hope of a substantive discussion, moderators sometimes turn off the user flags on the story [3] so that it can spend time on HN's front page.
In such cases, we usually adjust the degree to which we turn off the flags so that the tug-of-war between upvotes and flags isn't affected too dramatically. Usually the best way to support a substantive discussion is for the story to remain on HN's front page, but not in the highest few slots, where it would burn much hotter.
Since upvotes and submission time are public data but flags aren't, it can appear like a story is being downweighted when in fact the opposite is the case, as with this thread. That's not a rule, though—we do also downweight stories sometimes. That's why the FAQ explains that you can't derive rank from votes and time alone.
The reason moderation works this way, btw, is that HN is a curated site [4] (and always has been—here's me explaining this when I took over HN 11 years ago: https://news.ycombinator.com/item?id=7494621).
Moderators' job is to jiggle the system out of the failure modes [5] it would otherwise end up in if the software were running unattended. Turning off flags on certain stories, and adding downweight to other stories, are two examples. The goal is the same: to support substantive discussion on interesting stories, and (as a necessary condition for that) prevent the site from burning too hot if we can.
[1] https://hn.algolia.com/?dateRange=all&page=0&prefix=false&so...
[2] https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
[3] https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
[4] https://hn.algolia.com/?dateRange=all&page=0&prefix=false&qu...
[5] https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...