If one identity goes down in flames after a particularly unpopular posting, it doesn't exhaust my "karma" capital.
One purpose of (significantly) negative (total) Karma is to indicate when a user should be kicked out. Limiting this damage damages the forum. ("A particularly unpopular posting" is not normally the issue, it's usually the systematic failure to respond to negative feedback, including by stopping to post in particular modes or at all.)
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How does that differ from "Sort By:New"?
That's in a tree. (new posts under old ones won't be before the old ones)