As @blocktrades explained, the REP system was quickly programmed as a bandaid for STEEM. What I say is that DPoS is a blockchain protocol that suited Bitshares well. Bitshares is no social blockchain.
For a DPoS protocol to really serve a social blockchain implementation, it needs to evolve into a REDPOS, because the human aspects of accounts need to be an inherent part of the protocol, not just an add-on, a bandaid.
DPoS is like a "general use" blockchain protocol and STEEM was built on that. A "NEWSTEEM" will face similar issues if a social blockchain oriented protocol isn't developed first.
Ok, I just think the devil will be in the details of how that protocol works. In that sense, I think any algorithm will have to take subjective qualitative analysis into account. The ARS could be a possible avenue for that information.