I have a different opinion. If you had experienced with the mods on reddit, you will notice that Reddit official stance is: Mods are allowed to do anything they want with their subs. That is the line Reddit as a corporation has endorsed and is the main reason for the "landed gentry" comparison. It is also the problem that caused abusive mods being untouchable.

Reddit does not want to control its moderators in any way. Because of that, they dont even have any willingness to try to make the mods more accountable.