1/ In general: at their current 1% power settings, not as much, but you would know better.
- It is largely the principle of the matter and like I was saying, in here and the comments..... and if not this account or abuse, then future ones.
2/ In specific: The flags will affect the new users just getting started more than other more established users but as I said, it is already enough of a challenge on here daily
3/ This kind of stuff gone unchecked creates barriers to onboarding and keeping people.
I submitted this pull request which will hide all the flags from posts/comments. It hasn't been put up onto the live site yet, but it is approved - so it should go up in the next release. Once this is live, the flags from @asshole will not really be noticeable unless they are actually causing the post/comment to be hidden due to a negative voting score.
[Edit] Hopefully @klye's box can counter the posts/comments getting hidden.