Deleting a comment because it is insulting a person is moderation. Deleting a comment because you don't like it, it doesn't conform to your views or you find it outrageous, silly, inflammatory, false, fake is censorship.
I can't help but think this comes down to, its censorship if i disagree, moderation when i agree.
If someone posts something like "Elon Musk is an idiot", would deleting it be censorship or moderation? Musk is a person after all, but i suspect that many people would say deleting such a thing is censorship.
To give a more realistic to hacker news example - if there was a story about some company reselling modified GPL software for profit without following the gpl license, i would probably call them "bad" people. This is clearly an insult. I still think it would be a reasonable comment to make (hopefully a bit more fleshed out then just calling them evil of course).