In my opinion, a discord makes for an absolutely horrid place for any sort of non-ephemeral data. The search/history function is pretty limited, and there can only be up to 50 items pinned in any given channel. (Which yes, seems like a lot, until every new untrackable discussion is now pinned so people can try to track one down.)

As others have said, there are places for people interested in the lore to hang out and chat/discuss something. Chatting is what Discord is GOOD at. But what happens when users try to move their permament content to a discord? You get a tangled mess of pins unless some poor soul decides to be a scribe and copy any meaningful content elsewhere. And in a faster-paced setting where "several people are typing" is a common sight, that turns into a lot of work while sifting out seemingly useless meme replies or nonanswers.

So on that end, make a lore discussion discord. But don't expect it to be anymore more than a discord. If it's just to replace a private messages feature or a shoutbox, there are probably plenty of already-populated servers for just that.

On moderation, there are a few issues.
1. Fast-paced moderation sucks. It's never fast enough (outside of clunky bots who can't recognize context).
2. Nobody will ever agree upon a consistent group of "good" moderators in any setting.
3. People generally seen as popular or respected usually aren't the people who:
3a. Have the time to be a mod.
3b. Want to be a mod.
3c. Should even be a mod.

Which then leads us back to 1. I believe Theodric has plenty of experience in that regard if we just use the RPC as an example. (And how many staff members has that poor site gone through, whether deemed good, bad, or just there?)

Discord does a lot of things right. Let it handle what it's good at.

Let the forums do what they are good at. Here, we even get developer responses too!