I see it as a signs of problems to come. Being a Mod sucks, the only reason most hung around was that they were passionate for the subs they moderated. Replacing moderators at first might be easy but I believe, with time, the turnover rate will increase linearly thus causing a massive drop in quality content as time progress. Thus causing a feed back loop of less good users, less good content and more shit users, more shit content, culminating in the slow and painful death Reddit.