Does That mean I should stop doing that?
No, not at all! Reporting a post just means that a member wants a moderator to look at that post. It is usually done if something isn't right, like if people feel that the thread is losing its purpose, or if a few members are fighting in between themselves. The moderator may not decide to take any action and leave the thread alone, or even go after the submitter if they are reporting too many spurious incidences! However, I would like to encourage all members for *judiciously* reporting any issues. It's much better to bring it to the moderators attention instead of waiting for a lot of issues to pile up and then complaining that moderators don't take any action. It's just not possible for mods to go through every single line posted here and members can definitely help us improve the overall quality of the site (as long as they are not taking their grudges out!).
-Satyeshwar