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For about a month external trading websites used it(their own idea) to try to honestly gauge the honesty(reputation) of the traders using those sites. But that was stopped since it could be artificially inflated. As far as I know there is no system within steam to calculate 'rep' and never will be. If trade sites still use it thats their problem.
Still, if its posted on steam you can just delete it if you want. It is spam and they should be punished for flooding the place with their nonsense.
Probably best to block anyone who writes it anywhere.
Something that the user can curate by removing negative comments and at the same time inflate by using alt accounts has no value.
If you go to someone's page and you see
-rep
-rep cheater
-rep scammer
it's a red signal that you are encountering a ♥♥♥♥ person.
Some place value in those kinds of comments when they shouldn't.
Many times I went to people's pages just to see my confirmations, people calling them trolls, -repping or swearing lol, I guess some don't care to curate their own pages. Usually people who are there just to scam or do bad stuff don't care for their account as much as to keep it curated. Just some thoughts. I don't really partake in this kind of stuff lol. I don't think I-ve ever used the -/+ rep, maybe as a joke once to someone, otherwise I praise them in other ways naturally.
It has no purpose. It's a stupid thing for stupid/naive kids & scammers who erroneously think it matters or has some weight. Most of us know better by now.