Thing is, tight moderation is well known to create friendly and manageable communities. And applications keep instances from getting crushed under influx waves caused by external events.
There are discussions to be had around intervention thresholds, but anything that leans too heavily toward not intervening just leads to evaporative cooling of the community.
Poor moderation can give you a big space with a lot of content scrolling by, but the underlying atmosphere is often just toxic.
People are welcome to hang out in toxic spaces if they want, but social environments mould us. Caveat Usor.