Depends on what one means by moderate.
There are scales of moderation, like anything else.
Hence, even moderation should be taken in moderation.
Aristotle did land on a good one. The trouble with "moderation," though, is that almost any talk or action can be pegged as moderate! I can get away with pegging Rand as a "moderate egoist" if you let me bring in Max Stirner (or Aleister Crowley.)
In regular life, the word's used in one of two ways: musical-chairs ("I'm not extreme; look at _____") or feelings-based ("If I'm calm, or not that excited, I'm moderate. If I'm overly excited, I'm extreme.")