Exactly, there doesn't have to be any deeper meaning behind it. The community does not exist yet, so you make one. I don't see a difference between a moderator and any other user of a community as long as it is small. Perhaps you have to delete a bot post occasionally, or check if there are any technical difficulties. When a community has a lot of people in it, it's probably a lot more work because you have to look out for trolls and evil people. :O
This is also my case. Was never a moderator of anything, but felt responsible for providing a place where the community I participated on in Reddit could continue here, so I took on the challenge.