I think perhaps Chris Wallace should've had a little less respect for the Presidency.
As a New Zealander, I watched the New Zealand Leaders' Debate, that happened to be streamed shortly on the same day as and shortly after the US Presidential Debate. I must say, it was like a breath of fresh air after having just come from the American one. And one of the things I found so impressive about our country's Leaders' Debate was the moderator: he interrupted them when they weren't getting to the point - constantly, in fact, which may seem bad, but it meant the debate went on rapidly and effectively, with each Leader still managing to make their point. He even asked questions like, "You were part of that coalition government too, so how the hell are we supposed to trust you?" Yes, he really said that. And neither of the Leaders took offence, they just answered his questions directly. There, the Moderator was the most important person in the room, when he spoke, both the Leaders knew it was wise to shut up and listen.
Compare that to the American one - total chaos. Chris Wallace had to keep meekly interrupting with "Mr. President, Mr. President, please." Donald Trump's head is big enough without people enlarging it daily. In a debate environment, the moderator should absolutely be able to tell the President to shut up, but he was so ineffectual, Biden had to try to do the job for him.
And, also, as a New Zealander, I am perfectly happy to call the President of the United States a clown any day of the week. What are you going to do about it?