I respect your opinion too man and first I also believed that without flagging system will be much better, but how you fight against plagiarism or people who make a post to say only bad words about a person. There has to be a system to protect people from this kind of things.
Plus, I have seen lately​ that people are using 1% of their power to upvote a post( to make a good thing) but they are using 100% to downvote ( to make a bad thing). I believe that should be vice-versa, but it's only my opinion. It will be amazing to see a platform where people only helps each other and they try to prosper all together at the same time, not only a few of them.