Interesting idea, it sounds like an activity or engagement score versus reputation, and that is much more important to community builders and members then the current score.

Additionally, I think your right that the reputation score may have been misnamed,

As it is more of an indicator of your ability to attract the upvotes of high reputation acounts.

It doesn't actually reflect any sense of morality or character, it just reflects that you are able to get upvotes from people with higher scores then you.

So it doesn't reflect your reputation score in the traditional sense of the word reputation.