They get paid. A lot. Its a decent title to have I'd say.
The amount you get paid reflects how much time/effort you put in. There's only a few mods that get over 1btc per month and those are ones who handle a
lot of reports. The majority of others pretty much earn less or around the same as a decent paying signature campaign but it's a nice bonus regardless and I appreciate it.
Looks like hilariousandco has set a new standard and you would probably need to report beyond 1000 posts. seems the forum doesnt need any new moderators though as they seem to be doing pretty good. I dont think there will be any new moderators unless its for local boards.
Not necessarily. There is no specific number of reports that once it's hit you'll immediately get asked to become a mod, but it makes sense if someone is reporting so much with a high accuracy but there are likely also other factors incolved than just reports (though reports is likely the biggest influence). As for more mods I think there's enough patrollers and oftentimes the reports are handled before I even get the chance to click on them, but it's the reports against non-newbs that can take awhile so I think more Globals and/or specific sub-forum mods are desperately needed.