I can see how your moderation strategy might be different if you were optimizing for intelligent debate of issues in your community as opposed to optimizing for maximum fun had by the members of the community. In that case, though, you probably shouldn't conflate the two in your post.

I won't be having much fun if the discussion ceases to be intelligent. Maybe the people who'll come after will have fun, but this is a community-wireheading scenario: you don't want to wirehead, but if you do wirehead, wireheaded you will have lots of fun...