Adage: Actions speak louder than words...
It's really time to do something. I think one (or more) moderator(s) already reported to you the issues some local forums are facing. It's not a fantasy it's a reality. Some local forums are not usable anymore for a long time. Sometimes there are more bots than members.
Not long ago while reporting in the French section, nothing was moderated, guess what? It's a moderator from another section who did the job. (@ricky---) And no sorry it isn't an isolated case.
I don't know what can be the issue you see to increase or replace the staff but trying something else can't really be worst than what some section get.
It's not so cool for the folks interested in cryptocurrencies but don't understand English. They are limited to their native language but when they see the mess I don't think it is motivating to read or participate in discussions
Appointing a moderator is fine, but there's several factors that theymos would need to consider. I doubt he's just going to appoint someone just because a few reports are made now and then. I have no idea how bad it is in the french section or any other, but it depends on how many reports are being made. Plus, then it's appointing a member who is trustworthy and isn't going to use his position with ill intent.
I'm not sure if you've thought about this, but in the past a few local boards have had a sort of an election/voting system to appoint a moderator among the community. You could try that whether theymos looks at that and follows that advice will be another thing.