Sorry I disagree. I am a manager at work, and if a member of my staff does something against the company guidelines I can quite rightly give him a warning for it ... However if my director does exactly the same as said member of staff I can not give my director a warning, I would have to report this to another director for them to deal with accordingly, whether it be not doing his job correctly, or taking a dump on another directors desk it does not change the hierachy of who can do what.
Personally I run my forum like a business hierachy as Im sure many others also do. Admin are overall in charge of the forum, Super Mods are in charge of the mod team and looking after the forum, and moderators are staff there to do xyz function within the forum.