Its great but buggy. there is a whole sub-community of people who's posts get blocked because of the reputation system. If you've ever been flagged by a whale, just one, no matter how long ago, you are give a terrible rep. Lots of people have the same problem as me. I've seen bots with higher rep than me and I've only been downvoted once according to steemstats.
RE: Bots are on the downfall. Quality of content is up. The reputation system is working exactly as intended.