I don't think anything needs to change in respect to advertising. If a company wants to post an advert or information about a product that's fine, and then it will be down to the community to upvote or downvote them or react however they see fit.
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The problem is that a single whale can have the power of 10000 votes.
The world is already going crazy with left vs right, race suddenly being an "issue" again.
We've already got SJW bully campaigns to literally get people fired from their jobs.
Any opinion you don't like can be flagged in the same way as an opinion you do like can be upvoted.
Granted, it's still a better alternative than what we have now but it doesn't exactly solve the problem. :/
Not quite the same way because the financial incentive is to upvote things rather than downvote them. As long as people care about making money there will always be far more upvotes on Steemit than downvotes.