Woah. I wonder, what memes do they store with that account?
In my opinion, Imgflip isn't transparent enough. Only global mods (basically admins) like Acuity seem to know what's going on behind the scenes.
I kinda wish that Imgflip was more transparent. Hell, Dylan (Imgflip founder) should make announcements about what changes are going to be made before they take place. But from what I've seen, Dylan isn't online much. Just search his name on Google (or whatever search engine you use) and a you'll see that he goes on the internet very rarely.
Here's a hypothesis. From my observation, when an image you post here gets deleted, the notification that says it was featured changes to saying it's featured in the "deleted stream". So my hypothesis is, no images are actually deleted. They're simply going somewhere.