This is similar to real life: if you vouch for someone (in business for example), and they scam them, your own reputation suffers. So vouching carries risk. Similarly, if you going around someone is unreliable, but people find out they actually aren't, your reputation also suffers. If vouching or denouncing become free, it will become too easy to weaponize.
Then again, if this is the case, why would you risk your own reputation to vouch for anyone anyway.
Then you have introverts that can be good but have no connections and won’t be able to get in.
So you’re kind of selecting for connected and good people.
Even with that risk I think a reputation based WoT is preferable to most alternatives. Put another way: in the current Wild West, there’s no way to identify, or track, or impose opportunity costs on transacting with (committing or using commits by) “Epstein but in code”.