It's good timing that a petition has come and enumerated the points it has. We as moderators have done a little discussion ourselves, and it's clear that there are some points of consensus. Specifically:

The drafting of a democratically decided, and consistently applied moderator policy

...is being hashed out and will be presented for review when completed. We will expand on the rules as we have partially done in the past, and are in the process of reviewing and clarifying our policies for general and contentious bans, as well as creating a clear and transparent appeals process.

The institution of a public and transparent moderation log in the form of a separate subreddit

...will take some work and tinkering, but we are already working on implementation of public mod logs. The new updated version of modmail might complicate implementation but we're currently investigating what needs to be done for the purpose of automatically scanning and copying modmail transcripts for public view.

Now, who is on the team is a different matter.

New mod elections to be instituted immediately.

We need more moderators anyway, so an election is prudent. However, given the unsatsifactory survey results (87% men and nearly 75% white) and the lack of ideological proportionality within the team, as mods, we must use our position to encourage as many non-men, racialised folks and members of anarchist tendencies as possible to be nominated. Consequently, there are quotas to fill, which means...

The resignation of all current /r/socialism mods

...cannot happen. However, the construction of a representative staff isn't the only or even the most important reason. To start off, several moderators involved in the recent decision have been removed, left, or deleted their accounts. There is no reason for a mass removal of all moderators for the actions taken by 3-4 people who are no longer here. Moreover, frankly, turning /r/socialism into a space that tolerates bigots and channers will be even more unwelcoming than the status quo.

This is our collective position in full as it stands. Hopefully, fruitful discussion can continue here as it has happened elsewhere on the sub. All these goals should be properly achieved by a month's time (so the 14th of February), at which point you can expect a report on the results, and the first of monthly State of the Sub feedback-threads.