>You'll end up with essentially arbitrary application of the ban hammer based on the moderators' "feelings".
So, like the current organisation of things, that works quite well? You put entirely too much value on moderators being perfect. Moderators have been biased forever, have banned for no reason forever. It's a website, you can live with that (or without it). If they're unreasonable, move away, find another place or create another place. If you can't move away, deal with it, create an alt, don't get caught doing the same thing that got you banned, and that'll be it.
So, like the current organisation of things, that works quite well? You put entirely too much value on moderators being perfect. Moderators have been biased forever, have banned for no reason forever. It's a website, you can live with that (or without it). If they're unreasonable, move away, find another place or create another place. If you can't move away, deal with it, create an alt, don't get caught doing the same thing that got you banned, and that'll be it.