Easily exploitable without much stretch of a thought.
I'd say closing a program which doesn't work anymore is a better idea.
The majority of the exploits I can think of are fixed by setting the correct price. Other suggestions in this thread of denominating in bitcoin fix the other exploitation: chargebacks.
If you can think of something that isn't solved by one of those two mechanisms, I'd be interested in hearing them enumerated.
How so? These bot systems work on volume – there's no regard for how much reviewer time they gobble up. The idea is to make producing reports basically free, so getting 1 in 1000 positives is still a success if you have no regard for externalities.
If they have to pay for reviewer time for each of 1000 reports, then the scheme stops being viable.