What words are bad?
I just responded to a post, and included in a three-letter word for a donkey / stupid person - which described my particular immature behaviour for the situation. The three letters were replaced with three dots.
... isn't even one of the seven words which caused George Carlin such angst.
I don't even think that this "editing" qualifies as Moderation - as it happened so quickly I don't think that a human was involved.
I'd rather that the system refuse my post, versus changing what I wrote