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I'm a little curious as to why users on the moderator election page can downvote a candidate. This actually does not make sense to me. Is this a bug? or a feature? and why.
It is a feature.
This gives an overall sense of how the Server Fault community and the wider Stack Exchange users feel about a particular candidate.
To add to Iain's answer, to make it to the second Election round, I believe the candidate needs to have a positive net vote count. That is, more people approve than disapprove of the candidate.