Think this case in particular is pretty interesting. Former default subreddit and one of the largest on the site (Top 20 at least).
I think /r/videos is where we’ll see how things actually play out with the reddit admins. I’m guessing at some point the admins will step in and replace the mods.
/r/music announced the same thing a few days ago. Hopefully other major subreddits join in as well. But as already mentioned, admins will probably just reopen them and throw in new mods.
You can’t throw just anyone in to moderate a gigantic subreddit. They can get a user on the mod list but that doesn’t mean they can mod and a poorly moderated subreddit doesn’t keep users around long.