What an indepth post you have here...it's funny how something can start as a response, in your case, to @inquiringtimes, and turns out to be a lengthy, detailed blog of your own.  Not a waste though, my friend, because you not only managed to convey a great deal of information, but you've given me and hopefully many others, food for thought.

When I began on steemit just 2 months ago, I 'dabbled' in upvoting bots to try and figure them out.  If I had a post that I deemed 'good quality', but because of my 'newness' hadn't received much from it, I tried to use the bots to basically "pay myself for a job well done".  Other times, I tried them on some photos or posts that didn't take a lot of work, and felt like I had given myself a birthday present when it wasn't my birthday...not very deserving and I must admit, I didn't feel right about it.  Or I had a post that was dedicated to my friend who was dying of cancer and all proceeds were going to her foundation....a very good reason to use a bot I think.   I have since quit using them altogether now, so really, I'm agreeing with everything you are saying :) 

When you say :
"I would like to request people to discuss the effects of bid bots on reputation score system and its repercussions on Steem blockchain. Reputation is only reversible through flags and simple banning won't undo the abuse that happened on an account through bid bots.", 
are you suggesting flagging users for voting bot abuse, but in such a way as to lower their reputation level?  I'd love to comment more on that, but truthfully, I didn't fully understand your intention.

Finally, thank you for linking @inquiringtimes survey here too.  I may end up using much of my same reply there as here, but I think it's certainly a conversation worth having in as many places as possible.  On that note, I am a member of @newbieresteemday, an initiative that helps 'newbies'.  It started as resteeming but has become so much more of a mentoring and educational initiative; a place to offer support to new folks and not-so-new folks too.  So, I'm coming back with that 'hat' on to resteem this to the @newbieresteemday feed in the hopes to educate more folks!  

Again thank you so much for this!  Cheers:)  (Apparently my response could have been turned into a post as well haha)