yes, i always think of this. Why is this system not in use at Reddit or HN? Is it patented? I would pay 1000 euro's if they could implement it for my facebook group, with 2000 members it takes an hour a day which would halved with such as system, 14 hours a month.
Even without the meta-moderation aspect, just having multiple dimensions for evaluating any given post is so useful and seemingly unique.
"Upvote/Downvote" is not nearly as useful for ranking as the range of, say "+1 Funny, +1 Insightful, +1 Agree, -1 Disagree, -1 Spam, -1 Flamebait/Troll" (I've forgotten exactly what set /. uses)