Seems fair enough to me. Whales can still have the majority of voting power if they want, and are willing to put in the extra effort to look over some posts. Time being rewarded makes sense. It also makes sense that the post receiving the most accumulated viewing time should get the most rewards.

I'm not sure about the tech side and how one would go about implementing the ideas into code, though, nor the specifics of what the values in your formula should be (maybe "I" in your formula would work better at 30 seconds or 1 minute? This would likely have to be tested in beta before going live.)