Metafilter has absurdly good moderation. It sounds like they're going to do the best they can with more automation and fewer staff, but this is a huge loss.
What they're doing is just really hard. It's not a paradise, but they have reasonably civil, well-thought-out conversations with people of vastly different viewpoints on everything from transgender issues to Israel-Palestine to which rock band is the best to weird art to police brutality to which dogs are the cutest dogs to anything else you can think of. Imagine scaling up Hacker News so that every member is allowed to post to the top of the front page, and posts are allowed to be on any topic imaginable, and the average comment is going to be at least as knowledgeable and thoughtful as it is here -- in fact, the comments are expected to be good enough that they won't be sorted or threaded, and it will be more or less a faux pas to comment without reading all the comments that came before yours. It'll also be a faux pas to drive away people with contradicting ideas.
Running a site like that is so hard that I don't know of anyone else doing it. Not at this scale, not with so many members, not with so much freedom remaining to members.
The key is that Metafilter functions like a community. The members have reputations they care about (partly because of the $5 entrance fee, and partly because they value the respect of other members), and the mods pay attention to the mood of the site and the relationships between people, spending more time nudging people than actively deleting things. They also spend a ton of time (at metatalk.metafilter.com) getting feedback from the community about how the site should be moderated.
Spend a few weeks reading Metatalk and you realize that, whatever they're being paid, it isn't enough.