It would certainly be interesting to see. I've argued against it in the past, and I am still in two minds about the whole thing. On one hand, there are plenty of shitposters at all ranks, including legendary, who would never reach their current rank (or indeed even rank up above newbie) since the advent of the merit system. But on the other hand, retroactively demoting people based on a new system seems a bit too much like ex post facto to me. Maybe a good April Fool's joke for tomorrow?

I think a nicer solution would be to change the requirements for displaying a signature to 1 (or preferably 10) earned merit, rather than total merit. That way people aren't getting demoted, but the shitposters still lose their raison d'etre.