I can see the seed of a solid idea here - encouraging peeps to give their thoughts on submissions is always welcome.
Main side-effect you'd need to mitigate would be encouraging review spam. On paper, the pre-existing flag/whistle system should help quite a bit on that front - any review spam generated by this new ranking system would give statwhores an easy source of whistle points.
Solidly done pixel art as usual, Creeper.