Jeremy,
If you go to a Document in SAP Fiori (Since you have full access), you can see the Collaboration Options. The last one is very much discouraged since a single new interesting document can add a huge number of items to the Moderators' queue. It is often a newbie who does not realize the impact that selects that option. However since Blogs (now and in WordPress) are single author items, there are only Extended Options for blogs and the Moderated choice is not present.
Collaboration Options
People who can edit this document
Comment Policy
I guess that when Document authors (not newbies who don't know better) deliberately select that option, it is so they can control the constructive criticism flow.
Cheers, Mike