Y Combinator doesn’t have any content to put on the front page. It’s a business. The blog and news sites are secondary to informing people what it is that Y Combinator does. If they sold something then I’d argue that what they sell should be frontmost but they don’t. LessWrong is all content so the content should be upfront.
The new front page is similar to the one at ycombinator.com, which hosts a very successful group blog.
Also, you’ve stretched the meaning of “splash page” too much IMHO.
Y Combinator doesn’t have any content to put on the front page. It’s a business. The blog and news sites are secondary to informing people what it is that Y Combinator does. If they sold something then I’d argue that what they sell should be frontmost but they don’t. LessWrong is all content so the content should be upfront.