plans to pursue changes” that would let regular users vote moderators out more easily
I think that's a good thing in the long run.
There is already a perfectly fine mechanism to deal with bad mods, you just go to a different sub. That approach has worked fine for many years.
There's a reason they never added any other mechanism.
Don't forget there are people with tens of thousands of aged accounts that are itching for ways to make money with them.