I don’t think it would work. What is there to stop every active user on the forum to report load of posts, getting into the nearly impossible situation where the queue would have a size similar to all the posts being created? (I’ve exaggerated it a notch, but that is what would happen I figure, unless lots of restrictions are set in place to somehow avoid abuse and troll report of candidate posts in large numbers).

Besides, for it to work similar to the regular reports, it would require for the Merit Sources to have a similar uniform criteria: if one proposed post is marked bad (i.e. does not deserve merit), then none of the other Merit Sources could merit it.