No, but . . .
We need a way to differentiate between bad actors and substandard content. Spam, plagiarism, fraud, and other abuses need to be signalled to the community.
@mattockfs's comment is spot-on. Bidbots are doing a lot of harm to the reward pool and artificially inflating the reputations of their users. Perhaps voting needs two tiers. Reward only +/-, and reward and reputation +/-. In the mean time, we need to keep the flag as an indication of dishonest users.