Hmmm, a reasonable (if rather complex to implement) proposal.

Amethyst, currently, by default hides a note if it has been the subject of 5+ "Kind 1984" reports by your follows.

Kind 1984s already have a text field, so in that way we already have "Community Notes".

Amethyst (and other clients) could, for notes with a certain range of reports, display the Kind 1984 text as a "Community Note".

The only change required would be in the UX.

Would this "scratch the Community Notes itch", do you think? 

 No, I absolutely DO NOT want notes reported or hidden and tagr bot shouldn't have been reporting notes to achieve the feed it offered.  The whole point is that people should see both arguments.  More free speech, not less.

If kind 1984 is modified in this way, not all clients will update to display the notes so this activity will result in even more notes being hidden. 

 I'm only suggesting that reported notes be "Community Noted", rather than hidden, for clients supporting the feature.

At the moment, such reported notes are hidden by default in Amethyst. It is a very simple system, but I find it works rather well at present.

We could have users configure at what number of follow-reports a particular note will be "Community Noted" and at what number hidden.