Imagine that a user reaches 10K reputation and gains the moderation privilege. Now he can edit posts immediately. The day after he gets a vote down for one of his answers/questions. Will he lose his moderation privilege? Or is it given to him anyway?
My concern is because I think for either way it has some problems. In example above there isn't any problem if the given privilege is not taken back, but what if the loss of reputation is due to a spam user's removal (that was created by the user to generate fake reputation)?