Keep it as it is. For the people who get upset because anonymous people on the internet don't like them, I'd tell them the same thing my mother told me, "Life is not fair." Good people have bad things happen to them. Bad people get away with things. Assholes get laid like nobody's business, and nice guys stay virgins into their 40s. Life is not fair. You can either cry about it, or you can accept it, grow a thicker skin, and keep moving forward.
My god, you asked for a reason why people don't like the system; they explain it and all you can say in response comes down to "Suck it up, life ain't fair!"...
... and you even think that's a reason to KEEP it?
This topic isn't about real-world fairness. (Nor virginity... seriously, where'd that come from?) It's about this forum's rep-system and whether or not to keep it as-is.
So far, all I've read are people who either want it gone because of the abuse; or people who just don't care what anonymous others think about them. FastJack might have wanted to include that option...
I've yet to find any serious Pro-Rep-system argument other than "Jackpoint has one too"... which I agree is actually a good one. The flavor is great, but I'm also dead certain that smite-spamming in the way it's being done here would get you treated to a Black Ice bombardment and banned for life by FastJack (the real one). But admin/moderator control over smites aren't an option here
If most people "don't care about anonymous people on the internet" and just ignore it, and the ones that DO care think it sucks in its uncontrolled and abused state, isn't it better to remove it?