there are bugs on moderating communities on other instances. like mode actions do not propagate to federated instances if done from a different instance.
but don't take my word for it, i don't have a source.
I've experienced issues like reports arrive late for external moderators, and post actions only work, and not comment and user actions.
https://github.com/LemmyNet/lemmy/issues/3781
I posted a bunch in this community before it surged in June / July. I still comment moderately here, and read comment threads moderately.
Overall I'm not super active. I would just watch my regular feed and comment threads like I currently do, and if I see something uncivil, I'll intervene. So if I am chosen, it would be ideal to have other mods as well, as I may not be enough on my own.
to add to the other comment, I think mods can still power trip here. Though I think there's one thing protecting from that: the instance admins can reassign the mods. And though it is technically the same as reddit, in reality your instance admins are way more responsive that Reddit admins.