Their lollygagging on "moderation" is a feature.
So if someone comes and makes a DMCA claim on a thread, the moderators can just ignore it and wait for the thread to time out or they delete it and the users just make another thread.
As long as the moderators wait a couple hours or so to respond to legal threats, and maintain a semblance of "low moderation" they pretty much have plausible deniability to void copyright. It's sort of genius.