Too few users bother upvoting comments for this to make sense as a policy. In general, only very problematic or absolutely useless comments should be deleted on MathOverflow.
In order for MathOverflow to have lasting academic value, the MathOverflow community should strive to maintain as accurate an historical record as possible. A perfect historical record is impossible due to the highly interactive nature of MathOverflow but unmotivated deletion of contents clearly goes against this ideal.