Yeah, this is pretty much where I stand - memes are fun, but they can get annoying quickly. Putting them up in a separate community would allow people to post them to their hearts content and allow others tired of memes to ignore that community for a while.
Honestly, most communities are pretty small at the moment - I would start your own, and if you’re super successful and the mod load gets too much, I’m sure you’d find others willing to volunteer to help, if not outright take over moderation duties.