I seem to remember someone saying something about how a small number of users mod the vast majority of Reddit in terms of the number of users within the subreddits they control. I wouldn't be surprised if there was a black market for mod status. Might not be such a bad thing if the establishment was totally uprooted.
> a small number of users mod the vast majority of Reddit
I think it's more like there are a small number of users who are mods on a huge number of subs, but there are other mods that focus more directly on the actual moderation of those subs.