The real issue is the apparent schizophrenic nature of Stack Exchange. On the one hand, it wants to be a "go to" source of knowledge, which requires high quality questions and answers, so needs strict moderation to keep quality high. On the other hand, it wants to build communities, which can only happen if the site isn't hostile to new users. Being shot down and told you're asking your question wrong, or just having your question deleted for no good reason, is pretty hostile and likely to lead many potentially valuable new users to conclude that the site is patrolled by psychopaths and narcissists who just love clicking that "delete" button.
Unless this apparent contradiction can be overcome, I fear there is little hope for a new site. IMHO, YMMV, etc, but this opinion is based on daily contribution to answers.onstartups.com for two years and well over ten years on the Joel on Software forums.