I'm absolutely fine with your first paragraph, it's just that we have identified a number of issues with the current implementation, this is indisputable I would say. The argument appears to be that things will level out over time. I believe we do not have that time because it appears to be the same argument used to defend current Capitalist society; that the 1% will benefit the 99% by the "trickle down effect". This has been clearly shown to not be the case as wealth is concentrated more and more to the top 1%. I believe this effect is currently being played out, and that this will lose our user base before any theoretical trickling occurs - this is my concern.

"I think that those who are against down votes don't like the feeling of punishment that comes with them. Whether something is theft or not depends upon the consensus of property rights."
I'm against down votes because it doesn't appear to work on top of this reason. The consensus of property rights could be provided by the consensus of the community in the Court/delayed payment model I sketched out, or something different, but the main point is that the larger community confers these rights.