This whole debate looks very much like the "Pro-Guns vs Anti-Guns" debate...
Guns have legitimate uses
Guns can be used for non-legitimate purposes
Trust Ratings have legitimate uses
Trust Ratings can be used for "non-legitimate" purposes
From where I sit, the issue is NOT the Trust Rating system... The real issue is the way some people are using it... People misuse/abuse things in life all the time, but it doesn't make the thing "bad" per se.
Are there not methods to deal with users who are misusing trust? That is to say, exclusions/DT 'voting' etc? Perhaps it is these methods of "checks and balances" that need to be examined and/or modified if they are not proving effective.