In the same way as merit started to matter in (some) bounty /signature campaigns, sooner or later those badges may matter too. Also, humans are suckers for badges, you should know that.
While this may be possible, i think this doesn't make much sense, does it ?
(Especially) signature campaigns focus on good post quality.
Merit does - more or less - directly reflect exactly that. Badges for good reports are not an indication for high post quality.
Being a good poster and bringing value in terms of knowledge into this forum does not automatically mean engaging in the 'forum politics' (or call it whatever you want).
But i agree with your last statement, everyone loves shiny internet points
