Moderation isn't necessary if you're willing to just throw the whole site away when it turns to shit.
Well, yeah. Storing your potatoes in the dark is also not "necessary" if you're willing to just throw them away when they sprout. But wanting to preserve things we like is a given to most people.
Asking as a layman, isn't it well established that the stock market is extremely efficient and that active trading underperforms (for the same risk level) passively buying the market? Or does this not apply to very local markets?