Apparently Mods “incorrectly” marking their communities as NSFW (after having the community vote to do so as part of ongoing protests) is a violation of Content Policy and Mod Code of Conduct… but how can it be incorrect if the community chose to change the direction of the sub-reddit to NSFW?

As you say, I’d argue Admins changing them back to SFW without removing the porn, such that ADs show alongside user submitted pornography is the REAL Content Policy breach, but of course the Mods are going to get the blame for that one too for doing what the users want rather than what Reddit wants.

The Mods should just quit, all of them. Let Reddit figure out how to replace their 1,000’s of free workers on the fly.