Like the rest here, I think it's very much needed, especially considering recent trends.
As I mentioned to terjw, the Admin post asking about Moderators IIRC made no promises that it would happen. I don't know who applied (perhaps if anyone did they could mention it), I know I didn't being a newcomer short on time etc.
I think it would be helpful to know more about the duty demands of such a role etc. for users to make a more informed decision as to whether they are able to meet them, and hence the possible need for multiple lesser roles.
Frode would be a good person to ask, however as mentioned to terjw, he appears to be a huge Reds fan so might be a bit busy for a few days