I recently flagged this answer for being low quality (on the original revision of it, my flag fell at 1:32pm on March 18th) and my flag was declined with the following comment:
flags should only be used to make moderators aware of content that requires their intervention
My train of thought on flagging it was that, as a lone link, it directly violated the rules laid out in the FAQ and, as such, was worthy of moderator attention. Was this an incorrect way to handle a bad answer? Would a downvote have been more appropriate?