If we were to have an election would the results be considered?
An election how? By a simple strawpoll? Surely no one would cheat that way ./s..
Honestly, there really is no way to hold an election 100% fairly on this forum, and even if it were possible, i don't really see the upside for it.
What's wrong with the current method of adding new moderators ( adding users who have helped the forum significantly already, by reporting etc..)