Definitely get rid of the mobile site or drastically fix it. I wanted to look at a wiki on a thread with hundreds of posts already. If you keep scrolling down the page to get to the link to view via the full site, you'd have to scroll through the whole thread. I put my phone on airplane mode and then scrolled which stopped it from loading the remaining posts, put the phone back on normal, then clicked the link for the full site. That needs a major change IMO and many others in this thread agree.
I want to build on the post that said that the site shouldn't be a place just for frequent fliers... I believe it shouldn't be strictly about mileage/reward programs.. Take a look at the DL, UA, AA forums for example. It is not just talk about the reward program, it can be about anything regarding the company. Meals, lounges, fleet info, new routes, financial performance, etc. etc. Yes points/miles/status/whatever it may be are still talked about, but I think it is less in the airline forums vs. hotels and rental cars. IMO FT should be less focused on miles/reward programs and more about travel in a broad aspect.
Regarding moderation - there should be an appeal process that goes to a senior moderator (or group of them) who only take appeals from certain group of forums (say a group of SMs for airline programs, another group for rental cars, and so on). These appeals would be about moderator action and the appealing party can respectfully explain their case and the SM can keep it in place or override the original decision and can respectfully explain their point of view.