Less Wrong doesn't seem "overgrown" to me. It actually seems dried out and dying because the culture is so negative people don't want to post here. I believe Eliezer has talked about how whenever he posted something on LW, the comments would be full of people trying to find anything wrong with it.

Here's an example of what I think makes LessWrong unappealing. User Clarity wrote an interesting discussion level post about his mistakes as an investor/gambler and it was downvoted to oblivion. Shouldn't people be encouraged to discuss their failures as they relate to rationality? Do we really want to discourage this? No one even bothered to explain why they downvoted.

All discussion in Less Wrong 2.0 is seen explicitly as an attempt to exchange information for the purpose of reaching Aumann agreement. In order to facilitate this goal, communication must be precise. Therefore, all users agree to abide by Crocker's Rules for all communication that takes place on the website.

I think trying to impose strict new censorship rules and social control over communication is more likely to deal the death blow to this website than to help it. LessWrong really needs an injection of positive energy and purpose. In the absence of this, I expect LW to continue to decline.