How would you describe what ''moderator-rights'' would entail
I'm guessing yo.utubez model seems fair, you can mute comments, screen comments, disable comments, pin comments (on your own blog only) and perhaps you could block specific users from commenting or voting on your blog (essentially mute yourself to specific accounts).
As it stands right now, based on a "libertarian" model, we have no autonomy over our own blogs (homestead, real-estate).
I should be able to "put up a fence" (mute myself to strangers, make my blog "friends only") if I'm so inclined.