I would prefer that such rules originate in communities, rather than be imposed globally by overlords.

Agreed totally.
But the overlords did force their own opinion without consent or consultation.
I am sure you have seen the pre existing disclaimer in the 'About Steemit' document.
I get the impression that this just another case of the overlords employing the strategy of 'tell a lie big enough and loud enough....'

We only need the ability to flag as much as we need the ability to upvote. Both are speech.

Both are actions not speech, one action will be of benefit and the other by design will inflict harm to a greater or lesser extent. If you disagree with people it is more appropriate to use actual speech just as we are doing.

Flags are free because it benefits the existing overlords by transferring the bulk of any benefit to them. Its part of their EIP its not designed to improve our economic circumstances it improves theirs.

We do not need flags to manage behavior on this platform and if you have an argument that demonstrates otherwise I want to hear it please. Humble pie does not taste so bad when I conciser my potential growth : )