It sounds like a cool idea, and has a great intention, but I don't see this ending well personally, though maybe I missed something. Please correct me if this is the case.

It seems to fly in the face of the concept of open markets, which is a major reason for bitcoin's success; and are investors really the right people to be deciding what is and isn't a shit coin?? This sounds like something that would be turned into a tool for pump+dumpers to me; Imagine - you make a shit coin, pump the hell out of it, dump it, buy back in, the shieldcoin community notices and finally gets around to voting this coin as a "shitcoin"
- at this point, the dumper is ready to move to shieldcoin, so not only do they get all their profit from pumping and dumping their "shit coin" (which is really subjective, at this point, bitcoin is a shit coin compared to many coins not taken seriously or valued, and joke coins like doge become legit successes. Who are we as investors, not devs, to make that decision?? many traders don't have the first idea why any of the coins work) Just imagine, for a moment, a bunch of greedy people with no technological knowledge voting on coins based on their innovations.

So basically what I'm saying is, this coin looks like something that would make shitcoins more profitable to churn out and pump, since it adds an extra layer of profit for the pumpers far more than it would for any bagholder. I believe mainstream adoption of decently developed coins will kill the real shitcoins, not making another coin and devoting it to hostility towards open markets. People make stupid choices in every market, it's not really up to anyone but yourself to stop that from happening. Trust me, I know it sucks to lose money on a trade, but this..??

...With a coin like this, I would finally have a reason to mine shitcoins!!! I didn't before. Should I be buying doge again? It does nothing, and is deemed the shittiest coin, yet it's been to nascar and saved starving childrens' lives. I really don't see how we could possibly play crypto-god in the way shield intends to, it is not our place to do such a thing. Is this some kind of crypto-government??