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RE: Opposing Perceptions, mismatched definitions, parity mismatch, voting, down voting, and "fairness"
I don't usually think in terms of absolutes, so while it is a way. I know it is not the ONLY way. You could remove SPAM by allowing a downvote/flag/report post that popped a selection menu with a very limited amount of options for which it could be used.
It is a more distributed opinion based system. It's much better if the community removes spam, than if 1 moderator. It tunes more into the demand of the readers, and it removes the possibility of a corrupted moderator (one that downvotes competitors).