Russ Allbery, a Debian developer and Usenet veteran, writes about software, Kerberos tools, INN news server, book reviews and technical practice.
HN links it for Usenet history, the INN news server docs, the kstart Kerberos utility, and his essay on spam and cancel messages.
There are moderated groups. The NetNews Moderator's Handbook[1] has technical details (and more) but basically:
'Moderated' means that all postings to the newsgroup go to a mail
address (e.g. comp.std.unix@uunet.uu.net) instead of appearing
in the newsgroup directly. The postings are then forwarded via
email to a moderator, or group of moderators, or even an automated
program, who decides whether to actually inject the article into
the newsgroup or to reject it as not meeting guidelines spelled
out in the group's charter.
1: https://www.eyrie.org/~eagle/usefor/other/moderators-handbook
USENET never really solved spam. I remember the statistic that at one point one third of usenet traffic was spam and another third was spam cancels. Here's what people felt at the time: https://www.eyrie.org/~eagle/writing/rant.html
(the "cancel" message was hilarious since when invented it was unauthenticated, i.e. anyone could delete any post on any group in USENET! This had to be fixed:
https://www.templetons.com/usenet-format/cancel.html )
Also found https://www.gdargaud.net/Hack/NoSpam.html which is a great little time capsule site..
Ha-Joon Chang's works
Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
https://en.wikipedia.org/wiki/Bad_Samaritans:_The_Myth_of_Free_Trade_and_the_Secret_History_of_Capitalism
https://www.youtube.com/watch?v=WU9DgfOMpmo
Economics: The User's Guide
https://www.theguardian.com/books/2014/may/29/economics-the-users-guide-ha-joon-chang-review
Jane Jacobs
Cities and the Wealth of Nations
https://www.eyrie.org/~eagle/reviews/books/0-394-72911-0.html
You could download a news reader (I liked slrn; other people like tin or trn or pan; but there's a bunch of others) and find a free text server.
Or you could download INN and set up your own local group for you and your friends.
http://www.eyrie.org/~eagle/software/inn//
(Perhaps INN isn't the best server to start with! Maybe Diablo is better.)
http://www.openusenet.org/
I would think INN2 (https://www.eyrie.org/~eagle/software/inn/) is the most widely used - it is still maintained and readily available in eg Debian.
I don't know if you would define it as "modern".
I like Gnus so much that I try to put an nntp interface on most things, but the servers that come out of that are specialized, like Feedbase or my little blog-engine, Lantern.
I am glad I formed an active hacker community on Matrix before the proliferation of bots. I will miss Hacker News but I can tell it's going the way of Usenet in 1993. Much love to dang, I will always remember him and his effort fondly. Today's situation is reminiscent of Russ Allbery's famous usenet rant: https://www.eyrie.org/~eagle/writing/rant.html