That is actually a reasonable approach. But for it to be of any meaning to us, we would have to see how much of it is community driven and out of the hands of a centralized figure/organization. Blockchain can resolve this particular aspect beautifully.

Now I see your point ......... if this happens then we need it on the blockhain. Because creating fake reputations has been the most seriously developed art form in past 30 years. No level of scrutiny is truly gauranteed to result in a foolproof system but with enough concentrated effort, this project can be worth the while.