No, not at all. If Reddit were to adopt this model, then anyone could act as a moderator for any subreddit, publishing their modding decisions and letting everyone else opt in to applying those decisions to the posts and comments that they see.

I suspect that if someone's modding decisions could be ignored at the click of a button, there would be less temptation for them to abuse their power, and the role of moderator would no longer attract people who want to force their view onto others.

The WWW exists, that allows "select few" to publish and irc/bbs/group chat are echo chambers, but these techa have not done the damage that social media has. They are doing something wrong.