The term unmoderated is overrated.

Practically everyone moderates. Chans moderate, even if they have a lighter approach to it. This might be to remove spam or an undesired form of content. Perhaps, it's a form of content unrelated to the purpose of a site. It might be due to legal concerns or some other reason. Even a drug marketplace was reported to moderate, such as in removing photography of child abuse.

Not taking down a bit of content immediately doesn't make a site "unmoderated".