I think putting that kind of power into the hands of a few is way more concentration and centralization of power than the current model of people being able to downvote/flag with their own stake.
Steemit's UI is still not in sync with the original idea of having downvotes, which has in addition to abuse a use for downvoting posts that any stakeholder subjectively thinks is overvalued. There is a conversation about this on github: https://github.com/steemit/steemit.com/issues/215
PS: I am very sorry for my stupid comments in your post and any extra grief it caused you. I was in the wrong there.