We have to assume that the majority of users will not be disruptive unless driven by the environment. Otherwise we might as well stop right there.
Assuming that it follows that such moderation without any individual in power might still be implemented by reflecting the community will through some mechanism. So voting doesn’t work as long as everybody can create a million bot accounts. Maybe there is a way to prevent that. Same with other approaches. I wouldn’t be surprised if somebody can come up with a technical solution for this.