The problem with TechMeme is that even though the name suggests it is about Tech - it is really about politics (in Tech). Politics is important, even in Tech, sure - but this only amplifies the importance - while the ideal TechMeme would rely more on meritocracy. This is another example of "bike-shedding" - everyone can talk about the politics - but only a few know the technology and you'll always get more links to political articles then to technical ones.
Something with an anti-bike-shedding algorithm would be the real Magic Meme Machine.