So you're basically just putting lipstick on the pig?
You're just changing the name and not the actual functionality of a flag/downvote it sounds like to me. So all the negativity is still going to be there because most people don't flag to counter an "abuse" of the reward pool. 99% of flags are used to punish so called bad behavior like spam or plagiarism.
Also flagging is used as a form of censorship by punishing posts that some may deem inappropriate or offensive by taking away some or all of the monetary gains from that post in an effort to discourge that person from posting more "offensive" things in the future.
I get that countering the abuse of the reward pool is an important issue but I see abuse of the pool going like crazy now with the use of upvote bots. So is it really doing what it was designed to do? I don't think so.
I would personally like to see fagging removed completely from the code or at least the monetary impact and if things get out of hang with reward pool abuse than add it back in but I think the community would be a much happier place without flagging and all the drama it causes.