Great insights. Well, current voting system is pretty good because otherwise it could be abused very easily. Making new accounts for spammers is not difficult and if all new accounts would had big voting power, then abusing votes system would be very easy. Current system kicks those spammers out. I'd recommend to increase the number of whales although current whales are doing great works too but my point is, number of members are increasing by day which means more people will post here. Just saying my opinion.
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You could remove spammers with a REPORT feature. It doesn't actually require a vote. There does need to be a way to deal with spam, plagiarism, etc. That is the crux. I think that is something different from a VOTE. Yet as I've said recently I freely admit I am kind of color blind to why we need a down vote at all. Though we do need to be able to report.