That’s how aether works kind of.
It’s P2P/decentralised rather than federated.
Anyone can make a community. With enough participation in a community one can become a mod. Mods can be impeached by vote of active participants.
Anyone can see nod actions and anyone can decide to disable the actions of any mod.
I love the system, I was active there before moving to Lemmy. I wish it had taken off/absorbed some of the Reddit fallout rather than Lemmy.
AFAIK it is not maintained or at least updated much less frequently than Lemmy/ActivityPub.
Sir, this is a Wendy’s.