I thing this this is not something we can decide on... To rather have an election for moderators or not, or who gets to be a moderator. We are free customers. I don't see how it makes sense for us to choose who can qualify as a moderator or not. I saw this other mention about a "List" of possible moderators made by admins, and voted by the community. Not a half-bad idea, but it's possible to still have a bias. People are biased, rather they know it, or not. If we vote who gets to be a moderator, I see people picking one of the following:
1. Their friends.
2. A popular, well known OTer.
3. Someone you think you could get off with being foolish.
4. Whoever benefits the voter.
5. NOT necessarily the person who would be best suited.