The prior ownership/moderation team didn't make sure either. It's kind of a fundamental choice from the stream settings currently available. Auto approval isn't perfect, neither is full review.
There will always be rule breakers. What's worse or better, content against the rules that gets approved by one or two users who see submissions in the approval queue or everything appearing live for Moderator action by a group?
Wonder what lies ahead. Always room to adjust and improve. Guess the important thing is to make it better where we can.