However, let me throw realism into it and ask "isn't that the right thing to do if mods feel a report is bad, to ignore it?" It's like raising a false alarm and the police gets there, realizes it calls for no concern. The police turns and leaves.
Imagine how much time the police would waste if they responded to hundreds or thousands of these reports every day and there were no consequences for it? A lot of real crime wouldn't be stopped or prevented in real time by all that time wasting. So, when you call the police, they ask for your name and address, so they have you on file. With today's technology, they don't need to in many cases, but still.
Reporting false crimes and alarms is against the law in normal countries, and you could be fined or charged for doing it. Bitcointalk won't charge you, but your "punishment" is a bad report.