Am I The Only One Around Here

It sends a notification to the mods and they have to decide whether to take the flagged content down or not.

thanks

It does nothing for me! the flag I mean

same

:)

it's been my experience that nothing ever happens😒 and also downvotes are just a placebo.
you're best chance is the feedback button that increases your chances to one in a million.

All I can confirm about downvotes is that comments having a certain number of downvotes will eventually get hidden. For memes, I really wonder if downvotes have indeed any effect, at all.
Now in the moderators defense however I must say that the IMG flip moderation tools are not user friendly (I know this because I am moderator over the Foreign language stream and quite often I hardly know what I'm doing to get the moderation done there... And since I am a programmer myself, I guess that tells you something). I really wouldn't know how to find flagged memes, let alone that I can act upon them

ok

It simply appeases you. Nothing ever actually happens.

Flagging works. I've flagged stuff on the front page with no imgflip text. (i.e. just a funny pic posted without words added) They're gone by the next day.

We are referring to comments.

Ah ok... Never flagged a comment.

do you want me to demonstrate on this meme

nah