I remember it differently. I remember the old karma system being public, but even assuming you are right and it changed to private later on, is was still the intent of how the system was structured. The points (and yes they were called points then unlike now where it does not say points, but just "thanks total") were awarded based on criteria. I do not remember the specifics, but it was a competitive nature in that the more points someone had the more their karma points were worth when they gave them to other people so there was a reward for having more points. Whether it was public or not, the structure of the system was that of competition.
You never answered my question either though Andy. Is the count of PM's that you have a point system? I have 24 PM's. Do I have 24 points?