I doubt they'd ever implement it as it would be borderline impossible to make it un-gameable if you were competent (let alone if you're reddit)

it's an attempt to try to threaten the mods and split off whatever user support they have

divide and rule

No, it's a great idea. The only method of governance we have on the internet is dictatorship by fiat and any introduction of democratic methods, and tools to implement democratic methods, is good.

edit: he will find that he will have to pay people, though. If your mods are unpaid, you get mods that get off on power, or are paid from other sources.

He'll be counting the votes.