@beanz description of what the flagging mechanism is intended for:

This is the problem. You don't realise that your flag is your vote.

Flagging description, when you click on the flag button, here on Steemit:

Flagging a post can remove rewards and make this material less visible. The flag should be used for the following:

Fraud or Plagiarism
Hate Speech or Internet Trolling
Intentional miscategorized content or Spam

According to Steemit's description, you're wrong. That description says nothing about content quality or even vote-buying. It "flags" dishonesty and vileness.

You vote with your upvotes and you essentially downvote by passing on voting-up a post. Hence, the community, at large, decides what content is worth and people whom misuse flags rightfully get punished for their ignorance/ malice.

Intentional or not, you're spreading misinformation and people that start to implement your suggestion(s) about how to properly use the flag are likely to suffer from doing so, unless they happen to be a whale...I think everyone realizes by now that they're essentially untouchable.