Yeah ok, because it's censorship, we get it, it's censorship because things are grayed out on Steemit.com front end, that's why it's censorship, because it was curated as crap.
We have flagging because of a very sensible reason:
Ditching the flagging allows people to game the platform without any way to check such behavior. Without flagging, people could invest into the platform, even a substantial amount, but not necessarily as it will be attractive all over the board, and self vote exclusively which would guarantee the maximum return. There wouldn't be any explaining anything, because you could simply spam a post, write 5 comments, and upvote it, which will make it guaranteed profit, and if you invested enough you can do this a bit before everyone gets ready to sell off.