- It has no meaning. No one ever provides a definition.
- When a meaning is applied, it's usually not moderate at all. Now add up all the things that you do in moderation. You will most likely realize it adds up to excess.
Below is one example. The Cleveland Clinic describes moderate alcohol consumption. Below that is Joy Bauer's take on the same subject.
For this example, I agree with Joy Bauer.
By the way, my favorite beer is the one pictured below. I drink it in moderation. Whatever that means.
This definition (the one that the Cleveland Clinic goes by) is referring to the amount consumed on any single day and is not intended as an average over several days.
Once again, I'll stick with Joy Bauer's observation. Now, pass the Blue Moon ... please.