The old Latin proverb "Quis custodiet ipsos custodes?" http://en.wikipedia.org/wiki/Quis_custodiet_ipsos_custodes%3... might in this context be paraphrased to "Who is rating the raters?" The hope in any online rating system is that enough people will come forward to rate something that you care about so that the people who have crazy opinions will be mere outliers among the majority of raters who share your well info…
While I agree that this is a problem, I think a bigger problem is a simple matter of scale:
Amazon is huge, and many people buy things, but they don't split reviews and ratings by what kind of person is rating them. If they wanted to make an improvement, why not show me only ratings and reviews by people who are similar to me? They have tons of data about me and other people who use the service, so it should be possible for them to say "people like you rated this on average a 4, but everyone in the world rates it an average of 2.5."
That's much easier than having to read all the reviews and decide if the person is in my demographic or whether I agree with their review.