I don't really agree that the reddit moderation style sucks. If admins keep a close eye on mods to ensure there's not too much power tripping and such, I think it's a pretty good system. If you nurture it well, it can be very good.
Of course reddit has done everything it can to screw mods over for a while, so yea, not well nurtured there. But the Fediverse can do better.