I have been running such a self-moderated thread for a long time in Beginners & Help. I think it was the only one that wasn't moved to off-topic a few years ago when the admins moved the majority of them. The reason for that as theymos once said is due to the rules and requirements I had. All those concerns you have about the newbies not reading the requirements and understanding what is required of them are true.

I stopped bumping my thread a long time ago because I realized it was pointless for two reasons:

1. Genuine newbies don't have problems getting merits. They don't need my thread for that.
2. Cheaters will find easier ways to get merits. Reading my OP with all the rules is too difficult for them.