That approach seems reasonable. I think a dislike button should be added. The flag button should be reserved for spammers, scammers, plagiarism, abusive content, etc.... The dislike button should be used for people to express their disagreement with the content. The dislike function should not allow for censorship. Both buttons should offer some sort of reward or else people won't use them.

This idea has been expressed before but I think it has been buried in the comments of another post. I think it is an idea that should be taken seriously.

Self voting and colluding is quite a problem. Many quite good solutions have been thrown around but it seems that the developers do not feel this problem is a priority. Just take a look at the trending page, how many potential investors (real investors and not crypto nerds) have decided to run when they see 70% garbage. That is what self voting and colluding is getting us. Leaving @transisto, @berniesanders and a few others attempting a clean up is not exactly a workable long term solution.