i think you guys are severely misinterpreting this. it's essentially a system that allows you to become a youtube 'admin' over time if you get rid of enough garbage spam comments/videos. when they say take down offensive videos, they mean like the things that have been considered flaggable for years now that nobody has had any gripes with.
and the "mass flagging" thing is a perk given to people deemed responsible enough to reach a certain "level," and i assume it will function as a convenient way to flag spam/duplicate videos. or it may give you the ability to mass-flag a ton of research/other non-allowed videos at once.
one of the biggest complaints with youtube is the garbage polluting the comment section, and now they're actually giving people the means to fix it. i honestly think this could be a tangible improvement over youtube as it is now.