Yeah, it really depends on the site and what you're doing. imgflip takes very much a hands-off approach when it comes to the community. They monitor but I think for only EULA or gross offenders. It helps keep the community from turning into a porn site. But they don't interact much other than that. I had a front page meme a while back a mod commented on, but that's the only time I've ever seen it.
I dunno, still probably a fun job or at least an easy one. So long as they take our relentless bitching with a grain of salt...