See my reply to @timcliff regarding my proposed model and justifications for altering the rules for witnesses and voting.

Yes, it is a popularity contest. All elections are. The voting for assigning rewards is a popularity contest.

Doing philanthropic work for the community is also part of the popularity contest. I just think that while you are powering down, you should not get paid for being a witness, and that when you are a witness, you cannot influence the witness election directly, with an ever growing stake.