I do not foresee this happening. The moderation and voting would require a significant level of trust of the other instances, admins and moderators. Being associated with other multi-media sites introduces legal risks I would be surprised if a VC was willing to take on. Assuming you mean a bi-directional integration into ActivityPub
That said one could run something like HN and moderate it independently. Maybe Postmill [1a][1b]. There are other sites that ingest data from HN's API [2] for search, statistical analytics, etc... Something similar could probably be done that would be ingested read-only into ActivityPub from another site but I would be quite surprised to see this site implement ActivityPub directly. I don't know what the API rate limits are for this site or if Mastodon could operate within them.
[1a] - https://postmill.xyz/
What's missing is comments from AP being ingested/posted to HN, the upvote/downvote federation story, and the moderation story.
Has @dang commented on this question in the past? Has anyone shown a potential HN source patch?
Where is the HN source code right now? Free and Open?
I'd start with that, and then just build something that spins out feeds of each user.