Reputation is indeed an useless metrics, we know that from the era of bidbots and not only. I remember steem-ua very well, and was thinking how it died.
Good question MenO, although I don't know how it can be fixed.
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Hence why we are brainstorming. If you want, try to freewrite some ideas down. Be messy, who cares. See if something sticks, and make a post about it once it starts to take shape.
The biggest problem is how to attribute reputation to existing users as you can't start from zero. Or you can't attribute the same score to new users or users who've been here for 8 years. I don't know how you'd solve that.
what if we have a rep based on karma. Starts out neutral(yellow), turns red (shades of) or green to show if the user is behaving good. This, next to the number that says how long they've been here(current rep) kinda sorta.