What are you describing here? There is exactly one moderator who was let go involuntarily, and she did not take any stance against the company whatsoever. I do not get the impression that you have a clear picture of what's going on.
> spending their free time working for a company in exchange for some virtual badge
Most of the activities you perform as a moderator do not grant badges (even if they would for "normal" users). In fact, said dismissed moderator only noticed her dismissal when she suddenly received badges for her everyday moderation work.
> thinking they are responsible for a community and feel ownership
There is no ownership over any community. That's just the wrong word. But the moderators are the part of the community that is closest to the company. If the company ignores the moderators, it ignores the community at large.
Then they take a strong stance with company and are shocked to loose the virtual badges and titles
Here is the thing when you are a part of a community and take a strong stance they may disagree sideline you or kick you out no surprise here and that goes 100x when it’s a company
If you are working for a company in exchange for virtual badges, you are working for a company in exchange for virtual badges you are not the Shepard owner of the community
And lastly on my rant when I hear “we the stack over flow moderators” i picture a wide group of people some helpful some selfless some looking to be part of a community some thinking they own the community ...