Sure, and that’s a far cry from the click bait claim that “5 mods control 92 of the top 500 Reddits.”
It’s not even a statement of actual harm- just that in case the teams don’t check, these guys could be getting away with removing stuff and therefore exerting some form of control.
There may be some kernel, of truth, just to be absolutely and needlessly generous with the claim.
However the truth is not going to be close, by a galactic mile, to the worthy of the drama with which this topic has been en-robed.
I‘ve been a mod. If a shadowy mod had the ability to enforce their will effectively over a single sub, let alone multiple teams - frankly they would be amazing and should write books on their team management, work ethic and obsession.