How is this going to avoid becoming like Voat? Reddit already has competitors. It is just that they are cesspools as the only people who have a strong reason to leave reddit are those reddit has banned.
The only redditlike sites that outcompete Reddit are ones with more moderation (e.g., HN), not less.
If a mod removes, hides, or takes other mod action on a comment or post, the browser extension and federated storage system still allows me to see and interact with that content and it’s writer (“showdead” globally). You could subscribe to “mod actions” (which is just curation) by mod, which would govern your experience of the content.
I appreciate the mod work here, for example, but I also want to be able to bypass that “filter opinion” so I can still interact with folks and content out of band if I so choose (one person’s “flame war” is another person’s vigorous debate).