Actually, no.
There must be authority in charge. While some would do fine with none some would not and those who wouldn't need the protection of rules and regulations which must be enforced consistently.
It's a shame you newbs don't know my past. I used to hear the mod forums humming when I'd join a site. I know what I'm talking about when I say these mods do a damn fine job at a difficult task.
Things are pretty good here and I don't think any changes are needed.
Maybe a little loosening in the Q room, but even that is no big deal.