Wouldn't it be more logically to try and calculate a "bot-free" version of the users rep? Seems vote bots are what is braking the rep system, so if you could manage to subtract known bot rshare contribution from rep score, you should have something quite good without having to totally reinvent a metric.
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@thejohalfiles for example is extremely influential as being a Steem Angel. He deserves a high UA score for doing good deeds, but when an account doesn't blog, it also doesn't increase its Rep score.
Something else to consider is down vote attacks which can render an account useless by pushing its rep to < 0.
A single high SP user can keep down voting another user's posts and eventually that 2nd user's posts no longer will display by default via #steemit or #busy.
This metric, if used to replace the existing rep score would remove that particular type of personal attack vector.
The ability of a single high SP user to effectively bar other users from the #steemit platform by the simple use of down votes is a sign of a definite and very serious flaw with the existing rep system.
While not a perfect measure of an account's value to the #steem ecosystem the UA score is a definite 100,000% improvement (IMHO).
When looking at @pibarabot's reports, there are basically four kinds of flag usage:
I used to think capricious flags were a big problem before I started looking into it. @freezepeach has the low end of this problem covered and while we could probably use an orca sized @freezepeach, the number of people affected by true capriciousness is actually quite limited.
Today I believe the true problem with flags is the culture of fear brought on by retaliation. Most users really don't flag enough for reason #1 and #2 out of fear. If they did, crap post that bought their place into trending would likely get flagged down en-mass and we wouldn't have the self amplifying bidbots reputation problems.
Use bidbots, increase your rep, become immune to reputation damage because of your high pseudo rep, and from monetary concequences as well, as people with lower rep won't risk flagging you out of fear for retaliation.
In fact, people with higher rep won't dare to flag you because they know your rep will surpass theirs because of the bidbots, and you might retaliate later.
The "fix" you suggest assumes someone has lots of steem to spend.