I agree, I was actually watching this situation with glee, hoping every moderator on the entire site would quit en-masse. Maybe then it would be useful again.
Anyone who thinks that moderators quitting will stop questions being closed as dupes doesn't understand how StackOverflow works. The moderators are the ones doing the absolute dirtywork of handling cases of abuse, harassment, vandalism, spam, vote fraud, and so on. If half the mods quit, all you get in return is more spam and hostile comments. The remaining community will keep closing questions like before - that's simply not the job of moderators.