[FeepingCreature]

> For example, if there was a campaign that people thought was distasteful, they could pay $10 to take $5 from the campaign and allocate the previously funded $5 and $5 from the defund fee to the antithesis of the campaign (selected by a site administrator).

Sounds like it pays better to be the antithesis campaign. In other words, the site administrator would be the ideological point of weakness.

edit: Oh wait, I see, you pay $10 and get $10 donated. Different problem: the site profits from defunding, so they have an incentive to magnify distaste. And the defund target is still determined by the site administrator.