What these moderators seem to crave the most is power. The majority of them are unemployed loners with lots of time to kill, who are unappreciated in real life and don't have much power over their own lives. So they enjoy the small sliver of power that Reddit gives them.
There are also the agenda-pushers, who obtain moderator positions in order to control the narrative on Reddit. Just look at how certain ideological views are essentially uncriticizable on that site.
If you can get access to the Discords (or the leaks thereof) where these moderators think they are discussing things in private, it's a fascinating insight into their culture. Some of them occasionally acknowledge that they're doing all this work for Reddit for free, though it's a somewhat taboo topic too.
There are also the agenda-pushers, who obtain moderator positions in order to control the narrative on Reddit. Just look at how certain ideological views are essentially uncriticizable on that site.
If you can get access to the Discords (or the leaks thereof) where these moderators think they are discussing things in private, it's a fascinating insight into their culture. Some of them occasionally acknowledge that they're doing all this work for Reddit for free, though it's a somewhat taboo topic too.