"Natty started to flag answers automatically once it had detected a particular answer as a non-answer with considerable accuracy."
It might be that I don't understand - does Natty flag something directly, or flag them for the moderator?
On the other hand, the Heat Detector bot sounded it was punitive too, but in a way that might strengthen the community. (interesting thought - could it flag moderators?)
I spent an hour looking through them today and I've only seen one false positive and of course someone reported it instantly.
It's pretty useful. One of the questions I saw today was from few years ago and no one had answered it. Someone added a "me too" answer that wasn't helpful. I flagged that answer and provided a new answer to the question, and now it may help someone in the future.
Why shouldn't it? Moderators are just like normal users but with some extra privilege regarding editing/deletion.
There seems to be a bit of confusion on how SO moderation works every time SO is discussed here. Most of the moderation is done by other users. I'm very active in editing/flagging/closevoting, and I can assure you the instances I see an actual moderator (the ones with a diamond next to their name) taking matters into their hands in a given month can be counted in single digits.