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Censorship is not just about whether something is visible or not(although the flagging does make negative posts invisible and it requires an extra click to make it visible again). Censorship is a lot more than that. Suppressing the sources of income and revenue of content creators you don't like is the most effective way of censorship right now on YouTube. They simply do not allow you to monetize your video if the content is controversial. The abuse of the flag button here can lead to exactly the same thing that's happening on YouTube...

@msg768, agreed, the YouTube thing is a problem. YouTube chooses, also, what to put on the trending list as well. Many left and went to http://Vid.Me