Even split across a few staff members that's insane. But this is something they needlessly put on themselves by making comments hidden by default. An editor has to read every comment before approving it. This could easily be fixed by having it show-by-default, queue-after-flags/downvotes (which is how I assume HN mods act so quickly)
There are a few "trusted" users who are auto-approved. I complained that there doesn't seem to be any automated filters or heuristics. If they know "Repugnican" is a word used in name-calling, why isn't it blacklisted so that all such comments either get thrown out or just thrown to the bottom of the queue?
I've subscribed to the NYT paper edition for several years, which means I've paid at least $1000, nevermind the ad revenue they get form my page visits to the site. And yet I have to wait in the queue, usually 15 minutes to an hour, before my comment is approved, like any of the free registered users. I believe they have a million subscribers. I think it is a logical courtesy and efficiency to give paying members the benefit of the doubt. Not many people pay 3x a Netflix subscription just to be an asshole on the comment boards.
edit: Made it clear that even longtime paying subscribers are treated as untrusted commenters.