Well, at first I'd think it would be cool, since we'd all get the same perks and whatnot. Like what Pendraflare said, I'd love to see what's in the staff forums ;o
But after a while I imagine that people would start stepping up as mods, even if they're not exactly... mod-material. Let's face it: a lot of people want to be the leader. And when everyone wants to be the leader, it's going to be complete chaos. I imagine drama everywhere. Random people would be giving out emblems to those who don't really deserve it, or maybe someone would be giving emblems to his or herself. I imagine some troll renaming every forum to something silly, and another member desperately changing it all back to its original name. In short, people would start abusing their power.
If, one day, the staff would actually strip all PC ranks (which is extremely unlikely), I would leave, but not immediately. I'd want to see if it would turn out the way I think it would, heh.