If you click on a grayed-out comment's timestamp, it should take you to the comment's own page and the text there should be readable.
There's no approach here that doesn't suck. The fading of downvoted comments has downsides, but I think not doing it would have more downsides. It's really important for there to be visual signals of when the community doesn't support something, because in the absence of such signals, people will routinely jump to the conclusion "Hacker News agrees with this". That's not only a non sequitur, it's a category error, but that makes no difference.
There's no approach here that doesn't suck. The fading of downvoted comments has downsides, but I think not doing it would have more downsides. It's really important for there to be visual signals of when the community doesn't support something, because in the absence of such signals, people will routinely jump to the conclusion "Hacker News agrees with this". That's not only a non sequitur, it's a category error, but that makes no difference.