I don't know any of the Mods personally, but as far as I am concerned they generally do a good job. Voluntarily.
As the name suggests, they generally keep a lid on the offensive and especially where security may be involved. The security aspect is often a judgement call or acting on the advice of a serving or ex-serving Ppruner.
On one or two occasions, I have had cause to advise the Mods that certain discussions were getting too close to sensitive subjects and they have acted accordingly.
Yes, it is censorship of a kind, but you know, we all self censor all the time. I can't get hot under the collar when the Mods bin a post or an entire thread if it is called for.
And as 411A says, the originator can bin the whole thread...