I'm not denying that it sucks, but if you'd told anybody this was going to happen a month ago they'd have just laughed at you. Of course they were unprepared. Everbody has more than they can deal with. Adding more mods isn't as simple as picking some names out of a hat, and this isn't a thing anyone was preparing for. There currently are no alternative moderation systems, everything is too new and until recently was all way to small for that to be important, and they just have more work then they can deal with trying to suddenly moderate all of the threadiverse.
This was a bad option that sucked, but every option was a bad option that sucked. I'm more concerned with how they deal with things as they normalize over the coming weeks and months than I am with how they're trying to put out the fires in the short term.