Agreed. To me the most interesting part is what is going to happen to the large community specific subreddits, i.e the sports subreddits like r/soccer, r/music, r/movies, r/anime, etc. Those mod teams are generally very good and dedicate a lot of time to make the subreddit feel like a home for people who are interested in that community. Those will be the hardest mod teams to replace as opposed to large front page subreddits like r/pics or the smaller subreddits. Those subreddits are the middle ground of large enough to have constant abuse/spam but require domain specific knowledge so not anyone can be a good mod.
Most of the mods of bigger subs have been doing it for years and it’s just a quirky hobby/obligation.
Obviously the super mods are in the pocket of the admins, and political subs are very controlling.
But appointing a new round of mods for a sub with millions of subscribers will attract the most bottom barrel power hungry people.