hah, that is a super-negative interpretation of it. It is also a really one-sided view (only looking at it from the perspective of people who submit links). The bulk of their users will never submit anything, they just enjoy reading the posts, trying out the products and giving feedback. I'm not sure what you see as "fake" about the "buzz"? It isn't like they are bots. They are actual human beings who might even purchase the service or product.
Another view (a far more accurate view) is that it is a spin-off from Hacker News with a more focused topic. I quite enjoy the site, and I've never posted anything on it. Non-technical people and product focused people can find a lot of the stuff on HN outside of their interests where product hunt hits much closer to the bullseye, more consistently.