No, you are wrong, fella. Shit posters will keep doing this, because they have been still earn money from low-quality, bad-managed campaigns.
I'm new here, so I didn't know the old system exactly but I agree, that a Merit System improves the writing quality. Shitposters won't be merited so they'll stop it.
I don't remember exactly where I read the information, but Theymos, the forum admin, said that they have two possible plans for the newcomers of the forum:
He will give newcomers two options:
1) Only focus on earning money and stick on bounties boards. Choosing the one, newcomers have to be at least Junior members to post, and are now allowable to join serious boards after being Junior members.
2) Focus on getting information, and can post anywhere from Newbie.
Please remember that I don't remember exact information, so what I wrote maybe incorrect at some extents.
Notes: I will edit my thread with original contents from Theymos thread when I found it later.