Yes - We do have an r16 rule for becoming a moderator.
The reason we have this is because we wish to avoid the age of immaturity that so commonly precedes 16. The fact that ir0nm1k3 is a moderator despite his age should show you that he is obviously ideal for the role. We've had a multitude of moderators who weren't 16+, because they have each individually shown that they can be fun, mature, and responsible.
It's not unfair, He deserves to be a moderator.