I think it's a good approach, but it's fundamentally not that different from existing models in that the people who judge a post as "thoughtful" or otherwise have no incentive to think carefully about their judgement.

There's some cryptocurrency communities that use some interesting incentive mechanism in that upvotes have real-world value[0], but the problem is that the content is incredibly cryptocurrency biased rather than anything of general interest

[0] https://en.wikipedia.org/wiki/Steemit