I strongly disagree with the premise here. Forum moderators should be selected based on impartiality, rationality, and their willingness to apply an even hand in the face of outside pressure. A popular vote would ensure none of these things.
I'm not saying I agree with all of the actions of the current moderators. I think some situations could certainly have been handled better, and I hope that the moderation team will move forward with the lessons of those situations and their outcomes in mind. But I don't think that the Devs will likely appoint some random player who only just joined, and I certainly don't think the community should be the ones selecting who moderates the community.
Says the new moderator? Who has been around for some time now... submit your application
“The only person you are destined to become is the person you decide to be.”
- unknown