It looks ok but what if a certain member will go mad and flagged authors like what happen few days ago. This kind of author doesnt seem to care if his reputation will lost which makes it unfair to those who cares.
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Those are exceptions I think - "certain member will go mad". Members are generally responsible for their actions here.
The possible reason why an author could go mad is due to jealousy, jealousy of not getting vote while others are earning a lot.