Instead of autovoting, I follow the curation trail of ourpick which is the curation project of liotes. The supported posts are handpicked by the curators and I can rely on them for chosing quality content. I leave some percentage for manual voting.
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Yes, there are many projects like that - Curangel, OCD, Worldmappin. It's still automated voting, although of a bit different than just simple autovote.
I’m hearing good things about Liotes / Ourpick
People may consider following their trail if they don’t have time to curate.
There is a team of 4-5 curators who are going through the blockchain to find worthy posts. I quite trust their choices :-)