The problem that Lemmy is supposed to solve - and it does solve - is the admins. Here, if you have a bone to pick against a specific admin, you can register into another instance. And if none pleases you, you can create your own, with your own rules. In Reddit however if you have a bone to pick with spez or another of his shitheads, you're out of luck because they control the whole thing.
Moderators are another can of worms. You'll find shitty moderators here, just like in Reddit. And you'll find a good ones too.