Yes!
Oh, dear, let's NOT have another editing run for science-based. I'm ~32 edits closer to the 'copy-editor' badge after the events of last night/whatever-time-it-was-for-y'all, but we really screwed up the "active" tab, which led me to bump a few recent questions up via minor edits to restore some sanity.
Anyway, I suspect that this question is the result of a discussion we had in chat while relaxing after the genocidal editing, right? I'll rehash my position: science-based should contain hard science. I'll quote Vulcronos' entire answer to an older question here:
I totally agree [that our default position should be based on science and logic]. Unless the question says there is magic and gives a decent description of what is possible, I assume we are sticking to real world physics. Science fiction and steampunk stories have enough variety already, adding magical answers with no knowledge of if magic exists or how is just unproductive and isn't likely to be useful to the OP.
So if I ask a question about, say stone-eating insects (been there, done that), I'll assume that everyone knows that I want a sensible answer (or answers). I did add reality-check, though (which could have different connotations). No magic, please!
So I totally agree that science-based should call for hard numbers and strong evidence, backed up by sources, preferably papers (for good, free pre-prints, see arXiv). If I were to add the science-based tag to my insects question, that would let people know that anything remotely speculative is a no-no. I want evidence, observations, and scientific theories that are backed up.
I actually like the idea more from my traditional standpoint: that of an answerer. It's evident that I use math quite a lot, possibly more than any other user on Worldbuilding. I have a tendency to go a bit overboard from the perspective of others, bringing in calculus and the like. The reason I do that is because so much of science uses mathematics. And not just algebra. Differential equations (e.g. $\frac{d^2x}{dt^2}-\frac{dx}{dt}=2e^x$) can be very important. Unfortunately, many people that want scientific answers use the science-based - which is fine, but it does give me the impression that they want hard science, which typically involves a lot of math, papers, citations, etc.
So if we agree to use the science-based tag for only answers with hard science, I'll know when to add in equations and hard science and when to stop myself from delving in too deep. And it'll make it better for those who dislike it when I write answers like that. This proposal would be awesome.
Addendum
This would have been a comment on Monica's answer, but it was going to run way too long, so I figured I'd add it here.
science-based sort of smells like a meta tag, but if we end up using it as meaning "hard science", then it could be a very useful meta tag. Going back to my question on insects, if I wanted an answer based only in science, I would use the tag. As it is, I recognize that the idea isn't too plausible (logistically, too), and so I didn't expect that any of the answers would have much to back them up. That's a case where science is expected, as it is in most answers. But if I asked for hard science, most answers would be partly or entirely invalidated for the sole reason that there's pretty much nothing we know on the subject of stone-destroying insects.
That said, if you were to use the tag astronomy on a question you mentioned, perhaps science-based wouldn't be needed. As it is, you used planets and moons, which added all the specificity needed.
So now I'm on the fence. science-based could be a meta tag, or it could be useful as a tag explaining just how much science needs to back an answer up.
Second Addendum
Okay, I'm now 100% behind hard-science (see the rationale in the comments below, as well as the reasons in the other answers for sort of getting rid of science-based). We've reached a point where almost all answers are backed up with science, so I think it's no longer needed.
I've gone ahead and written a test question for the hard-science tag:
How can a Type II civilization influence accretion rates from a debris disk to a passing star?