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I've made that connection too, but not quite. Its relative to who you know, who they know, if they've made their profile identifiable, and have a vanity address linked. The only "social credit" factor is if the given calculation weighs against user reports.
Either way, WoT scoring exists in lieu of being a truly open protocol that people use as a platform for speech & is wholly voluntary, but highly encouraged to use to filter out the noise and spam programmatically. No system is perfect and there will always be people who are considered a false positive.
The scores are currently based on the network of relationships, your reputation increases when followed by high-reputation users. Since there are a lot of spam accounts in our network, most normal users end up in the top 10%. I think this is quite different from a social credit system.