I can only agree to what you say. Just collecting followers randomly is has no benefits anyway.
About the etiquette, I would say it could be much worse, concidering there is no real moderation carried out. May be that could become a issue when the site grows further. One problem I see in the flagging system. Or, rather in the lack of a system in it. Everybody can shot everybody else down at will (if I have understood this correctly), thats paradise for those who join cummunities only to piss people off. It may require some kind of "court" which decides if a flagging is justified, or was only a malicious act.