Right its rebranding bullshit. But no, it does not need moderators. Simply introduce unique user identification (as Block.one will do on its Steem 2.0) and then put a treshold on the flaggging mechanism. If x number of users downvoted (relative to a standard) --> than activate flag/reward-pool redistribution, otherwise --> ignore. If number of disagreement is low (e.g. one or two of 50 or 100 users disagreed, then its very likely that the downvote reflects an extreme ideologic opinion which is forced upon us via high steem power /see bernie sanders)).

but anyway doesn´t matter at all...others will do it better, free market.