One of the most interesting things about Reddit is how they’ve managed to grow Reddit, Inc to a few thousand employees, but everyone still refers to the company as “the admins,” as if it’s a rag tag community group, not a Twitter-sized company.
No, the 'admins' are people who work for reddit. 'Mods' are people who volunteer to work for reddit (the 'despots'). By the way, you should try modding a moderately large sub and see what you have to deal with. It is always easy to criticize until you are one having to do the work.