Reversing a bad moderation or operational decision when it's widely pointed out as having been a bad decision isn't what I consider giving the community any control or influence. That's merely fixing mistakes that probably shouldn't have been made to begin with, had real community involvement been in place.

What I mean, for example, is that while submissions and comments may be critiqued, there's pretty much no formal way for users in general here to critique that critiquing. The best that can be done is a submission like this one, which for whatever reason ended up off of the front page rather quickly. That's what I'm talking about.

Slashdot has its meta-moderation system, for example, which is somewhat useful and somewhat accessible. There's nothing even approaching that here, as far as I know.