Well, first of all, As many other users have said, if this get added to all ranks, cubecraft in-game report system will be totally collapsed. If now barely they can review all, imagine if instead of 4000 players (for example) use it 8000...
Myself for example, I reported 4 players today, all my reports got automatically closed
Besides the collapsed that this would suppose, my personal opinion is that this is feature of the ranks. (Perhaps some months ago I would say yes, but now, no.)
You also said, add other features like change the ranks colours, well, you can already do it. That has been a feature since cubecraft open his doors.
Other thing that I've noticed, majority of players unranked (and a lot of ranked too) that lose a game save grudge and probably if this get added would increase substantially the fake reports amount.
Anyways, you still having the old system which has always been with us (which I totally recommend instead of /report command, I'm pretty sure that 70% of in-game report got automatically closed).