I believe it would be great once an email in a conversation has been tagged (with any number of tags) to have the option to auto-tag all future emails and possibly all past emails as well.
This should be controlled by toggles. Once the auto-tagging is applied the toggle should make it easy to apply (or take back) the tags from all emails of a conversation. This functionality should not affect tags automatically placed following the use of a filter, or the manually placed tags of the email(s) in question.