Governance is essentially a curatorial tool for surfacing content according to different metrics. Because it is a curatorial system, it is fundamentally a content moderation tool. All you're doing in governance is you are moderating content.
Fundamentally, I think of governance as a curation process in which the real purpose is not the top decision your making and determining your course of action. The real purpose is surfacing data. The real value of governance is seeing how your community aligns on different issues.
When you start thinking about governance as content moderation, it gets really interesting because fundamentally it's about what your community believes overall, the content that matters to them.