Transparency in moderation can be a good thing in some contexts I would agree, but can depend. Some mod actions are already publicly visible in when posts are edited those revisions and the reasons for the revisions can be either posted or concealed at moderator’s discretion.
To show integrity of the moderation process it could mean a lot to have some records of that reviewable by the public. Especially if moderators are not site administrators, and the administrators are moderated by the same process as everyone else.