I believe a moderator should exercise their power very carefully. This is a community site and as such, it's governed by the community. We have plenty of tools to allow community members to self-moderate and only occasionally is the need of an actual moderator required. I think I would rarely - if ever - use my power as a moderator to interfere with the community unless such interaction was clearly needed.

In particular, things like off-topic questions, nonconstructive questions and so on can all be community-moderated. There would be no need for me to step in, unless serious disagreement broke out - and that's exactly what I would do.