If they are going to do it, why not just give each person one point for every post that is repped regardless of who's doing the repping?
Even then I'm not a fan of it.
That's 'essentially' the way it worked years ago, except in reverse. A member's reputation
power was directly linked to the amount of reps they'd already given, using some sort of algorithm that kept the repping power (and thus, the overall rep points received) low. If I remember correctly, I didn't hit 1000 rep points received until like a years after I'd signed up, and my repping power at the time was something like 71. Big disparity there.
Then, at some point - I want to say 2005 or 2006 - threads intended solely for people to rep each other and raise their rankings started in the Recreation area. You started seeing these posters then repping
outside of this area, and it spilled over to the other parts of the forum.
Then, at some later point, the rep system was revised (I'm guessing so that it would no longer be obvious which posters don't do a lot of repping, since said posters may have lopsided reps received vs. repping power) so that your rep power was now a percentage of your reps received. I want to say 10%. Members who were around prior to the change will have a power that slightly differs from that fixed percentage, IIRC.
A slightly similar thing also started happening with the Blessings. At first, you got one per post, and there were no generous elder members with loads of them that would distribute them to newbies as soon as they saw them (I still remember the race for a single poster to get a million blessings so that they could buy the highest-costing item in the item shop for their Denominational section - at the time, that was a really lofty goal). In addition, the ability to have an avatar, a signature, or custom user text cost blessings, so you had to stick around and post if you wanted those privileges, and it would take a while for you to earn enough again to change them. Then the Jobs business and bank was implemented and it became possible to stockpile or earn them quickly.