We have, and so has Reddit. For any site that could be described as a community, the people sitting round the table are probably more important than the shape of the table.
E.g. we don't even have our own search (I recommend http://www.webmynd.com/html/hackernews.html if you haven't tried it), but we do crack down pretty vigorously on trolls and spammers, because they hurt a site more than lack of features.
The difference between Hacker News and Everyblock is that Everyblock needs to pay six salaries. (I know they have a parent company with cash now, but does reddit even cover its own hosting and salaries? I honestly don't know.)
Regardless, the grant will end and they will have to generate at minimum six (decent) salaries worth of revenue. I don't think the grant will last them much longer. Don't get me wrong, I know most of them in one way or another, and wish them the best ... but like I said, it isn't exactly like Hacker News or reddit in the 'survive for the fun / publicity of it' sense.
E.g. we don't even have our own search (I recommend http://www.webmynd.com/html/hackernews.html if you haven't tried it), but we do crack down pretty vigorously on trolls and spammers, because they hurt a site more than lack of features.