In PvE, a railgun-fitted Moa will cope perfectly well with Level 2 missions, but might be out-competed for Caldari pilots by the Caracal, which can match its damage-dealing to NPC damage weaknesses because it uses missile launchers. However, the Moa has more tank and higher potential DPS, so with careful fitting and/or skilled piloting (to help with application issues), it can be stronger than the Caracal against Serpentis or Guristas rats.
For fighting NPCs, the Moa typically fits railguns and kites. With kiting tactics reducing incoming damage, and the hull bonus to shield resistances, and careful fitting to resist the expected damage, a Moa in Level 2 missions can be quite lightly tanked, freeing up mid slots for modules such as Tracking Computers to increase turret range.
PvP
The Moa can be a cheap and effective line DPS ship in groups. With railguns, it can deal good DPS within point range, and with Tech 2 turrets it can switch to Tech 2 ammo to project sensible damage out well beyond point range.
Blaster-fit Moas can work, and can surprise opponents. However, the Moa lacks the tracking bonus of the Gallente Thorax, and fitting and/or smart piloting must compensate for this.