The problem is that Suspensions or Bans don't necessarily work. In fact they tend to make the situation far worse.
One of the problems on other forums was that some members were constantly temporarily banned and they would end up falling into a pattern of getting banned because they might feel they were right and who they opposed was wrong, so when a moderator steps in to arbitrate they'd end up getting flak from the temporarily banned member as there now also a badguy (conspiring to ban that one guy/girl that takes it a little too far)
This basically meant that over time a community would become more toxic as those that griped would moved to get permanent bans and then pop back up under a guise of a myriad of sockpuppet accounts to prove that banning had little or no power. (In essence they weren't learning that their behaviour was unacceptable, but actually becoming more self-escalative.)
The truth of the matter is that in the real world, we might meet people we like and people we don't like. we might actively avoid others while they too might well actively avoid us (usually when they owe money) The real world can actually be far more sinister, as the darkest things that get placed as news headlines tends to make us question just how our fellow man(and woman) could be capable of such acts. Again the problem is that those dark acts are a minority but they tarnish us from being able to potentially get along out of fear induced by our own imaginations. (on a side note, There is no wonder as to why Stephen King writes horror.)
The reality is that it's in our nature to create a perception of who we interact with and what we do or don't hold dear about them and that can then cause us to project what we think is true. (Fake News was more likely people voicing concerns and it being misrepresented as facts.)
As for the subject of an oligarchy method of "policing" behaviour, I considered it initially and did put some work into a system that I considered could work but the problem is that such systems can be open to abuse.
A couple of statement/quotes touch upon that:
"The unwashed masses, selling their votes."
"The failings of the bureaucracy, is the bureaucracy."
"The concept of a Utopia is as mythical as a Unicorn."
Granting users the right to a popularity contest, the skulduggery to get people to agree with a particular voting direction or the manipulate of the system to replicate votes to bolster a minority view is the exact reason why an oligarchy system for suspension won't work in the long run