From what I understand, reputation system is primarily there as a mean of self-policing members who get out of line, and not really about who's most popular or rite most hilarious posts?
If this is indeed the case, why not simply "flatten" the reputation. Give everyone a set amount of points, oh say, 100 points. If they get out of line, they lose points and if they lose too many points, their ability to post and other stuff becomes restricted.
Would this be a solution you'd be interested in?
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