I understand this idea has been going around but people are very confused about its effectiveness. Hive account@timcliff pointed out one simple scenario how it would fail but there are many others (the details of which vary according ot the specific voting rules) once you carefully think it through, pretty much no matter how you set up the voting rules. There is no plausible set of voting rules that is going to prevent a very dominant majority stake (current about 150% as much as all other actively voting stake put together) from effectively "being in charge". That ought to be pretty obvious from the very concept of "voting".

Furthermore any such change would require a hard fork, which means all nodes and exchanges updating. That is obviously very costly and disruptive, and generally (for good reason) those have been limited in frequency and number.

That isn't to say that some changes to the voting rules wouldn't be beneficial in some ways and perhaps those should be included in some future hard fork, but it isn't a solution to this issue.