Is that the principle on which this site was found
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The 4kids PTOI moderator definitely gets extensive latitude as you said. A few years ago admin implemented a new 'thumbs up/thumbs down' feature to vote on posts. The moderator immediately received a bunch of thumbs down on her posts. I suspect she complained to admin about people not liking her posts because everyone who gave her a thumbs down immediately had that feature disabled by admin, myself included. However sometimes the problem is the moderator, not everybody else. It's unlikely a bunch of people needed to be stopped before they went rogue and started giving thumbs up/down votes willy nilly.
And I'll point out that the person who owns IHang can certainly run the site however he pleases. However again, the problem comes in when readers believe they're reading an unbiased board while it's absolutely not. Investors lose money because of that type of deception.