As an out of left field (ish) thought...:;
I am really kind of wondering what would happen if the hog pit just went away entirely and 'mildly constructive' just became the general discussion forums with SLIGHTLY less lax rules than at present. Yes, there are people that would quit here if that part of the forum went away, and there would be a lot of screaming, but...
I don't see a 'new' hogpit style forum wakening, or the user base splitting. I see...people being pissed off, some leaving for a while, and ultimately everyone coming back. There are reasons for gloves off possibilities, but I think that those reasons could be crafted into the semi-constructive rules to allow for it.
I dunno. I keep hearing folks say they really would prefer that, except for a very vocal few, and I'm not sure why we as a culture/community are letting a vocal few people make us keep the hog pit around instead of making the decision that we need to be better.
(I mean, elephant in the room and all.)
ETA: Even Blizzard is coming down on toxicity in their communications between players. Microsoft's ToU is updated along these lines for Xbox. People are realizing that the hands off free for all nasty is REALLY damaging to gaming communities.
We are a gaming community.
I trust the mods enough to craft the rules in such a way to allow for the honesty that is the one necessary and healthy part of the pit. I honestly do think it's possible, and at the end of the day (year), we would as a whole community be a lot happier.