If moderators were inconsequential Reddit wouldn't be trying to hire and fire them.
>I assure you, there is a line around the block of people clamoring to become mods.
The willingness of others to do the same work doesn't make what someone does inconsequential. Would you say an NBA player is inconsequential because you could find a million people who would like to play in the NBA? Obviously being a Redditor moderator and being an NBA player are two different things but by how you are valuing based on willingness to replace, an NBA player would be more inconsequential than a Reddit moderator.