The "Greatest Hits" page has the following info:
Questions that got a large amount of views or a large amount of feedback.
The current algorithm divides the number of page views with the total amount of question and answer feedback received (adding a bonus for high view counts), excluding questions with less views than the median :- 722.
Apparently, according to AI, the "greatest hit" (?) question of all time is the following
What is the best way to express interest in a job in a cover letter?
- That's supposed to be EL&U greeting card to the world? Do we, the users, those who have contributed most, not have a say on this?
- How do I find the Greatest Hits page without resorting to the link above?
I've been told that it is not a new feature. Here is the related post on MetaSE
Even knowing that the feature is not new and it has been discussed, I do not consider my question to be duplicate. But if you want to close it as such, so be it.
UPDATE 6 September 2020
Thanks to some unexpected activity, my attention was drawn back to this post. I am glad to say that the aforementioned "greatest hit" answer was closed by EL&U users soon after and no longer appears on the page. It has been replaced by What does the phrase “Stay Hungry. Stay Foolish” mean? with 81 upvotes and over 600K views, a more admirable (and sensible) example of a "greatest hit" than its predecessor. Saying that, I still don't understand why highly-upvoted posts with >800,000 views are not better represented. I'll chalk it up as one of life's great mysteries.