The system is great and
if implemented in
true sense without
favourism can only benefit for everyone.
Prediction:Its Just the first day of this system but come back here after a month or so and you will see Jr Member and all other ranks will stuck at where they are and all those Selfish DT Members (Lunda / Pharmist / Actmyname etc) + Not Selfish DT Members + few good friends of them will have buckets full of merits and bitcointalk will be for those only 500 to 600 Users.
Now you see a spam by the Selffish DT members that
"Improve your post quality" And we will still tag you
Shit Poster 
So no need to debate on this, just come back after a month on this and check the merits of everyone
Anyways now coming for the help of Ordinary public of bitcointalk, I have just one suggestion , Can we lower the number of the merits in order to achieve Ranks.
I mean if a Member needs 10 then why not
Full Member 20
Sr. Member 30
Hero Member 40
Legand 50
Of course only a good poster will first get 10 points to become member and time it take to achieve Hero to Leg. is still that same 1.3 to 2 years.
sorry, I think it's a good policy to improve the quality of users in bitcoin forums, and many more benefits for the progress and existence of the world of bitcoin crypto in the future. so that will be born shades of thought and ideas that brilliant as a driver of bitcoin future.