Not necessary.
Slashdot-like meta-moderation system is waaaaaaay better.
It allows users gaining reputation, stops 99+% of spam, hides 95% of useless posts and can work similarly to FB/Google's +1.
No. I've seen how people react around here to anything that could be construed as even slightly negative about bitcoin. I'd like to see a forum that encourages discussion and alternate ideas, not a circle jerk of nerds all congratulating themselves on being awesome.
1. You don't even know how the system works, and yet you speak.
2. Also, moderation depends on what majority thinks, and on this forum majority is noobs. So there won't be any kind of "circle" of self-adoration.
3. Normal mods would still have greater power than rest of the people
4. To some degree, sooner or later every forum becomes a circle of people-with-similiar-mindsets who adore themselves and reject incompatibile mindsets, so your point is invalid.
So you think being able to downvote and hide posts is a good idea?