When I first discovered HN, I quickly learned by various cues that this is not a place to drop sarcastic, one-line zingers, but rather a place to act as you would in a real-life business setting. The cues included both the example of the dominant commenters, and their chiding of non-conforming commenters. Over time, with the growth of the site, there are proportionally fewer commenters setting a strong example, and more commenters lowering the bar and getting away with it.
We are conditioned to feel that democracy = good, but in online communities I do not believe it is the case. Rather, when there were more "good" commenters, democracy was on your side. The "good" commenters had the power of numbers. Now, increasingly, the unconditioned, lower-quality commenters are beginning to gain the power of numbers. In order to counter this, you must provide the "good" commenters with a some other type of power.
You could hand select a number of members, based on your personal knowledge of their historical comment quality, and how much you think they reflect the HN that we want. Give them the ability to super-downvote. This status does not need to be public. It's not a status-symbol. As a bonus, this could give the exemplary members some small incentive for sticking around, by making them feel like they can do something meaningful to fight for HN, beyond just complaining.
Also, Eliezer has dealt with this problem quite a bit, rather successfully, IMO. Maybe ask him.