They way you keep "Bubba Joe" from voting for his pal in the next cubicle is by requiring subscribers only voting. So you can't just join and vote using the same idea that limits the gallery submissions.
Instead of a vote system, we could charge a small fee and just let everyone in. Yeah, I see that working. We could put together a small group to wade through the submissions and put together a magazine every two months.
I would not expect to get paid as a photographer submitting work. I make what little money I do by selling through my site, what a magazine would do is give me expossure to a different segment of the market. I learn more about different photographers not from the net but from magazines that I subscribe to.