I don't know if a Reddit moderation policy is compatible with this place. The two serve very specific and different purposes.
I, and I believe most people, use reddit to get info on specific topics. If I start a new hobby or video game or other project,, the first place I'll usually go to is reddit for any research or guides on them. Also, if I just finished a TV series I'll go to the reddit for it to see what people are saying. Reddit is a great resource for this, but what it's lacking is a sense of community. I don't know/follow/keep up with any of the other posters on reddit, nor do I really care to. For this, I assume a more strict moderation policy focusing more on keeping things on topic makes sense.
A message board like this provides a sense of community. It's where you can "shoot the ****" with likeminded people. I wont find in depth discussion about my new underwater pumpkin carving hobby, but it's where I can fairly comfortably rant about sharing food at restaurants or tongue in cheek make fun of people for saying pop instead of soda. Or do quarters pool or music drafts. Stupid stuff like that, but it's a strong sense of community. For this, I think a looser moderation policy but still focused around what the owner (Joe) wants for the FBG business makes sense. A looser moderation policy also makes sense considering Joe is the only mod here.
It's like Reddit is the local library. FFA is the local pub. There are more behavioral rules at the library than there are at the pub.