Not just no, but heck no, and no algorithm either. Karma at a glance doesn’t tell you anything about quality. High karma users can be anything from insightful posters to inflammatory shitstains to literally not even human. It’s not useful for keeping new accounts from spamming - new accounts are created every single day en masse for the sole purpose of accruing karma by any means for the distinct purpose of being sold to spammers.

Karma also tanks discussions - every slightly big Reddit post is flooded with people repeating the same stupid “in”-jokes and puns that were funny 7 years ago by people and bots trying to boost their karma. The first few comment threads in every post become absolutely useless at best, and at worst, bots and bad faith actors clog up the pipes with ongoing spam efforts and purposely deceitful and manipulative misinformation campaigns that are demonstrably harmful to society.

Fake internet points is an outdated idea that imho, has shown itself to ultimately be bad for communities. I personally think that while Lemmy acts as a great alternative to Reddit there’s no compelling argument for trying to make Lemmy an exact copy of Reddit. Lemmy doesn’t need to be a one-to-one mirror image of a website that we’re all literally fleeing because it’s a giant shit pile. IMHO.