I seriously don't mind a reward for reports. I'm not someone who does allot of reports because most hackers get caught by Sentinel. And I usually ignore the chat because there is always someone else who warns the player.
This could be against EULA but isn't, I'm not sure why though.
I'd rather not have 10000000 more false reports made by players who are just reporting for points.
This may happen when the system gets implemented.
People who may be abusing reports could get a temporary or perm ban like
@Gainfullterror got when he false reported Mac with a Rick roll.
Anyway this could result into more people doing reports.
But definitely a growth in false reports. Luckily there is an solution.
Simply punishing players who are suspiciously making allot of 'false reports'.
My opnion on this is that I couldn't care less.