I used to be a regular visitor to another usenet newsgroup - to do with investing - that became completely overrun by spammers - to the extent that it became almost impossible to locate genuine posts among the spam. Eventually one of the regulars set up another newsgroup, moderated by him, and most of the other serious users of the original group migrated to it.
I don't think this group has reached such a desperate situation yet, but things aren't looking good. My only suggestion is, that if someone is sufficiently motivated to set up a moderated newsgroup, that he or she just go and do it, and notify the group. I have a feeling that a committee-based approach won't work. A committee would, I suspect, agonise endlessly over who or what should or should not be included.