If YouTube users were moderating YouTube and the reason that a video was flagged was because a non-paid member of the community initiated the action, would that

If YouTube users were moderating YouTube and the reason that a video was flagged was because a non-paid member of the community initiated the action, would that still make YouTube in the wrong? Would the "mod" be to blame? What if it was a up/down-voting system, and the community just down-voted a video to the point where it was "dead" for normal people? Would YouTube be in the wrong? It seems strange that there is no expectation of these companies to moderate content that they are hosting, if they perceive it as being bad for their user base. When I was much younger, I used to get upset when I was banned or squelched from IRC channels for saying things, and I would berate the moderators for being overzealous. In reality, I was just saying things that were perceived as not being conducive to the discussion in these channels, and I was not aware enough to understand that what I was saying was not welcome in that setting.