Stake-weighted activity is an objective measure that is protected against sybil attacks, but can be heavily biased toward the opinion of a few large holders. This is where account reputation and identity offer an alternative subjective metric: popular vote. Under this metric you weigh all accounts equally regardless of their stake. This process can be somewhat subjective because larger holders can fake it by dividing their funds up among multiple accounts.
Why did you lump reputation and identity with a none stake weighted option. Reputation and identity can also be applied to the stake weighted option. In my opinion both stake weighted or not will be subjective. Calling stake weighted objective and then say it is biased towards a few did not make sense to me. Identity and Reputation can be a factor in both nonetheless, it's how this factor is accounted for. The only bug a coder can not fix in a code is the introduction of the human factor, that changes a lot from idea to application.