All flags raise a warning for moderators in the top bar of the site. The Not An Answer flags behave the same way as all other flags.
The Not An Answer flags could probably be handled by the community. The community already participates in the moderation of such cases, and this can be seen in the linked answer. That is, low quality answers enter the Low Quality queue, and users may downvote it. After a certain number of downvotes, the delete link becomes available for users with high reputation. And then users can delete the answer. Without ever raising any flags for moderator attention.
Indeed, the Not An Answer cause alone without another more important cause such as spam, doesn't call for moderator attention, at all. The community could handle these all by itself. I think this would be a good feature request for the network.
I also would like to take the opportunity to explain why the flag was declined by a moderator.
Here's the relevant part of the timeline (link for those who have the privilege to see it) on that answer:
- The answer was posted
- 2 hours later, Heslacher flagged the post as Not An Answer
- The flag was handled as Helpful by Simon
- At around the same time, Toby added a comment, signaling to the user that the answer needs work
- At around the same time, and Simon added a post notice, reinforcing Toby's comment, and signaling to everyone that moderators are aware of the situation
- 2 hours later, Stephen flagged the post as Not An Answer, and Simon declined it