Sure, but I could see it being used to promote scams and things, too. You get a popular post, and then change it to something else, pointing to a scam, and feign popular support for it.
I remember that being one of the reasons for why both Reddit and Twitter didn't really have post/title editing.
It's better to also have some known method of counteracting any potential issues ahead of time, so we're not blindsided by something like that when it does happen, especially when it's something that could happen now, rather than some far-fetched issue.