I think it's a bit of both. I'd agree that the mods handling for free, several very large subreddits - which would require as many hours as a full time job - ar

I think it's a bit of both. I'd agree that the mods handling for free, several very large subreddits - which would require as many hours as a full time job - are doing it because having power over others gives them a high. But the mods running smaller subs might spend an average of a few minutes per day moderating and the rest enjoying their community.