But at the same time, it also seems like flagging can be too easily abused, and can lead to accusations of censorship and distrust. (Though I've certainly seen it work well in cases, especially for false/defamatory articles.)
But it really does seem like we're at the point where longstanding users need to also be able to vouch for flagged stories, or something like that. And even if that doesn't automatically restore the story, it could at least show a label like "pending moderator decision" or something.
At a time where trust in the media and authority is low... a little bit of greater transparency might go a long way. :)