Yes, WoT is a form of nepotism, which is the _opposite_ of PoW.
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Community relays actually alleviate the worst effects of WoT, tho. I think you're wrong about that.
They at least give everyone a chance to be quickly seen and prove themselves. If you get thrown out of a community, you can go someplace else, or start your own relay, and your newfound frens can follow you. There's no lag.
With WoT, nobody ever knows you came, you wallow in obscurity for quite some time, and you then leave without making a single sound that anyone heard.