Could somebody explain the appeal of browsing Product Hunt? It seems just like a subreddit where people post nothing but ads for their businesses, and I've always been a bit baffled by it. Sure if I had a SaaS to sell I'd post it there, but why is there an audience for a long list of product ads?

They are not just product ads, they are ads for NEW products.

So, the audience gets to stay on top of all the cutting edge products and services.