So what we are talking about is censorship. You are suggesting a non-traditional type where a government does not do the censoring, but a few people do. How many votes would it take to put a website on a blacklist? 50, 100?

Who decides if a site is spam?

So is free speech dead under your proposal? What is I build a site that criticizes the Governor of your state. Or a federal agency. What would prevent my site from being blacklisted in your proposal? Even if I had great content (your argument is about poor quality content) my could be voted into a black hole in a few hours. Lets think about this carefully. Is that the price we are willing to pay to get rid of EE?