"How do you separate an incorporated entity from a community?"
An incorporated entity is still a group of people and you shouldn't have to give up your speech rights to get liability protection. So, my answer is the same for a blog as a publisher. You either believe you were right or come to see you might have been wrong. If you believe you are right, but the lack of protection under the law allows others to crush you, then something is seriously wrong.
I think you're mixing the meaning of "private". A lawsuit is a part of the public law system.