In my opinion, no, because
a) Despite the loud grumbling, >90% of flags are justified. The idea of flagging is to make the author of the flagged post look in the mirror and see where they went wrong. Not the other way around.
b) We are already seeing a phenomenon where, instead of the aforementioned reflection, flagged authors attack the flagger. In real life, there are probably valid practical reasons why reports, etc., can often be made anonymously.
I don’t see a flagging problem on the forum, but rather a lapse in quality in certain threads, which has also justifiably led to an increase in flags.
There should be an atmosphere of fear among those who are constantly and justifiably flagged, not among those who contribute to maintaining the quality of the forum.