Since capacitors are conductive to AC
You need to think very clearly about this.
To say that a capacitor is "conductive to AC" requires a circuit context and it is to say that there is a sinusoidal current associated with a sinusoidal voltage across the capacitor.
Thus, if in fact you could 'hook up' one terminal of an AC voltage source to the Earth and the other terminal to the Moon, there would be an AC current through the source that is proportional to the frequency and Earth-Moon capacitance.
Now, consider that to do this, you had to connect the Earth and Moon together via conductors to the AC source - this is the only way to 'pump' electric charge back and forth between the two bodies.
But heck, if you've already got conductors between the Earth and Moon...