People can still check out what's happening there. It's nice to hear about a new site (I wouldn't have heard about it otherwise). Also, I'm not sure what the title (used) to be so I can't comment on that.

"Yehuda Katz launches Lobste.rs" where he is only a user and not involved behind the site at all. As noted elsewhere, it is run by someone who was banned by HN because they were banned from HN, so, to me, a presumption of bad faith is warranted.