Running as bot will run the commands as the bot. So if you had something like @editpoints@[@user@|10], it would add 10 points to the bot instead of the user. However, if in the chain part, you include @user@, you could make it a target. Example: !example2 @user@, and the command message of !example2, @target@[1] has used this chain command.
Although if you seen the examples on the wiki, I believe they do something like Mods only on chained commands and set the first/initial command to run as "User (elevated access)". So even if they run the 2nd or 3rd chained commands (etc) they have to be a mod in order to run them.