I don't see why people would respect an author any more for not self-upvoting when self-upvoting is a very rational choice given the way the system works, especially if your SP gives you the ability to add a Dollar or more to your net worth just by commenting here.

I have no problem with self upvoting. I do it all the time. But there is a kind of vague unwritten limit to how much is acceptable. People tend to notice when you do it too much (whatever too much is). Also, the people who really prosper on Steemit are those who very generously upvote others and network with them, and well... socialize on this social media platform.

If you're going to self-upvote at the expense of voting for others, then you're shooting yourself in the foot no matter what the code allows. For this reason, I don't think there is any reason to be overly concerned. The ones who truly abuse it will kind of weed themselves out. The rest of us who do it in moderation will call it a good ROI.