I think that the rewrite mentioned was actually made, and the post as stands is right.
(Although in this case it’s weird to call it an information cascade—in the situation described in the post, people don’t have any reason to think that a +50 karma post is any better than a +10 karma post, so information isn’t really cascading, just karma).
Note that the post you linked by Johnicholas contains a mistake that the author admits invalidates his point.
I think that the rewrite mentioned was actually made, and the post as stands is right.
(Although in this case it’s weird to call it an information cascade—in the situation described in the post, people don’t have any reason to think that a +50 karma post is any better than a +10 karma post, so information isn’t really cascading, just karma).