What you have left is an effective community driven summary of what was deemed a little more central / pivotal to a given discussion / topic by the members of this community. If you either don’t trust this community or feel inclined to check for yourself if the entire forum has more to give, you can bypass that feature entirely (you already did ; by not knowing it was there to begin with, which goes to show it’s not central or detrimental and the community is not actively PUSHING an agenda, more proposing an alternate constrained vision of its general input.)
It’s not comparable to an essay, forums are online discussions, and, it’s actually been stated many times before here, as such, can create an incredible amount of noise that makes it difficult to turn the common knowledge created into a practical and useful database, which I think is something we should work on.
For badges, I too don’t care much for it, although I will also say old forums did have more than age centric badges, such as number of posts centric badges to quickly identify the most active members of a community. You might think it exclude the others but I think it also allows you to have a quicker view of what kind of individuals are the driving force behind it, as, be it something to like or not, most communities are driven in content (another word we can choose to steal from big business and reinterpret btw) by a tiny fraction of their userbase. I find it useful to know who they are and what they stand for.
Ultimately sure it can lead to over-hierarchisation of individuals but then it’s down to the community to find the right guidelines, attitudes and structures to avoid it being that.
I find in this community I’ve seen as little of that as possible in any internet community I’ve been part of.
Do note how the word community comes up a lot more in my descriptions than forum.