This is a great idea in theory... but my one issue is simple: The rewards for creating content are far greater than voting. I can't see myself spending hours carefully curating content to the point of upvoting 40 great articles, when I could spend those hours working on my own original artwork to post.
I love the idea of using our votes well, but that 40 number is HUGE! When it's presented that way, it makes me want to start getting in on those auto-vote bots.