We need a system where accounts have a spam score that is totally detatched from steem power. The only way to increase your spam score should be by receiving upvotes from accounts that have not previously upvoted you. Known bots should not affect spam score.
Spam score would essentially be your flagging power, with reward and visibility impact as follows:
Flag power = total spam score for all flags the post recieved.
Each users Spam score should also have a max cap, and no one user should be able to remove all rewards or hide another users post or comment.
Repeated upvotes from the same accounts should also decrease in value unless supported by upvotes from other non-bot accounts that have not upvoted you before. Without these measures, I really can't see Steemit ever achieving a state where it truly and fairly rewards great content.