The only person who could really answer that is @ernest.
While we wait for him to respond on the topic (which may be awhile, as I'm sure he's got his hands full right now given the lemmy CSAM issues), I'd suggest that if you're looking to become mod of a dead magazine, give it life again. Post and fill it up and become a contributing member so that Ernest has something to go on when reassigning permissions. Otherwise he'll have no indication as to your commitment towards the community in question.
The mechanism itself is already ready, but there are so many other changes that the next server update won't be that easy. Additionally, I had to solve several private issues that effectively distracted me from work, sorry for that. At the beginning of September, everything will start to stabilize, and that's also when all the changes will be on kbin.social.