So, how should I put this... I'm in the camp that supports there being some form of active rating mechanism. (Likes, 5 star rating or similar.) I think the idea behind the current system is that everyone should have equal opportunity, and preventing favoritism. However, there are two problems. For the listener, if you don't have the time and will to browse through 20 songs, it's practical to have some form of quality screening. And if you're an uploader, some form of reward is an incentive to upload good music. As unfortunate as it is, 90% of music uploaded is going to suck (or at least not blow anyone's mind). A rating system can help bring attention to those other 10%.
I can see certain specific problems with a rating system, which could be solved with some tweaking of the rules. Sockpuppet accounts: restrict voting to people who have a certain amount of activity in the forums or similar. Favoritism: If a person reaches the top 3, restrict them from reaching top 3 for the next x weeks. And so on. I do think some form of rating system would be good for the site.