Well, that's not moderation. The equivalence here is to have 2 Moderated Communities called Bitcoin from separate users, each without any additional moderator. They might be completely different from one another.
The team behind a single Moderated Community maintains a single meaning of the feed they create.
In other words, the "moderation" of similar NIP-34 labels from different users must be done by the receiving client/user and not by an external team you trust.