What about extending the platform with a new "institution"

You are dreaming. Get your head out of the clouds, man. We haven't even had a minor hard fork to help streamline new account creation that was supposedly almost done a year ago. The entire 2017 roadmap was a complete fail. No milestones delivered at all.

No, we are not going to get a new institution on this platform, at least not anytime in the new few years.

We have to make do with what we have, which is either some sort of balance by peer review and downvoting or no balance at all, and the whole thing going off the rails (the latter being, for the most part, what has been happening).

Now that I see your proposal I understand your objection to peer downvoting, in that you think you have an even better solution (and perhaps you do). But that's not the reality of the situation. The reality is that we have the tools we have, and we have to decide what to do with them.