Do you think "Moderator" is just a euphemism for "Censor"?

No if message boards a don't have any moderation they can quickly become forums posted with spam, insulting messages, profanity, demeaning posts and other less than pleasant behaviour. Unfortunately the anonymity of message boards tends to bring out some less than pleasant people, others with their own agenda, those with little to contribute positively and trolls who enjoy trying to make others uncomfortable.