Mmm. I'm not sure that changing the rating system is the solution to the actual problem (which is new/unpopular stories being passed over because of ratings).
A lot of these suggestions are about hiding or preventing ratings for new stories.
Many of the new writers who post stories are looking for immediate feedback. They want to know what people think about their story, and they want to know if their idea is interesting enough to keep writing. The easiest ways for them to get feedback are star ratings and chapter favorites. Comments and reviews are unfortunately sparse.
-Requiring a minimum number of ratings before the total rating displays means that some stories which aren't read enough to hit that minimum will never have their rating displayed.
-Setting a chapter minimum before ratings show hurts new writers who are seeking feedback on their first chapters. Most hobbyist writers, especially new ones, aren't going to pre-write 10 chapters before posting. One of the comparisons made to this situation was how volare releases batch translations for their new stories - but volare is a powerhouse translator group with tons of experienced members. Even in the translation world, most translators work on their own and can only release one chapter at a time. At most, a solo translator might do a batch release of a couple of chapters for their first release. Similarly, most new writers will make 1~3 chapters before they bring their story to the world, hoping to see if anyone is interested in reading.
-Blocking, as in preventing anyone from rating at all when a story is posted, just discourages early feedback. If someone reads a story that a new author just posted, thinks, 'Oh, kay, this was a pretty fun read' and goes to rate it only to find that they can't, they're just going to exit out and move to the next thing. They're not going to remember to come back to rate it after X amount of time has passed. I don't see a problem with fans of an author giving 5 stars to all of their stories - if those fans are going to enjoy literally anything the author does even if it's terrible to others, it's still valid. And if the story is truly, truly horrible, someone is going to drop those 1 stars that will drag down the rating.
The issue we're trying to solve is stories being overlooked because of ratings. The things which encourage readers to read a story, even if the rating is low, are:
-Recommendations from other people ("You should check out this story, I'm reading it now and I love it")
-A strong synopsis that gives the reader confidence that what they want to read will be found inside this story
-Reviews that highlight the story's great points
That's why I suggested we add a recommendation area/feature to SH. Having another person say, "Don't worry about the ratings, I'm really enjoying this story" is so much more valuable than a star number.
Maybe there are other solutions which can help encourage readers to give new and low-rated stories a try. It's important to keep discussing and figuring it out. I'm just not convinced that placing limitations on the rating system is what will help.