Look, I submit a post, and I get moderated to 0, as a moderator thinks it's redundant. I was expanding on a previous post (also made by me), so I would think of it as fair.
However, this ONE MOD POINT brings me down to BAD karma. Now I can't post anonymously, and I lose my +1 bonus! This is a horrible system. I got moderated to _0_ and now all my posts are _0_? This isn't fair! [and now I probably am subject to 2 posts a day]
Naysayers would say, sure, this system prevents against the trolls, but ONE POST moderated DOWN is an absurdity!
The FAQ says "Really Bad users may even lose their +1 associated with being a registered user.", but I've only had one post moderated down!!!
Conclusion: I don't mean to bitch about it, but the slashdot moderation system is unfair.