Personally, I think the dial has some room to move over towards free and frequent bannings. Maybe mods are too timid: too keen to be seen as nice rather than being willing to make firm decisions that maintain a good atmosphere for those remaining people who put effort into not being creeps.

However, don't you dare pretend to yourself that "if you're a weird asshole killing the vibe you get two warnings to shape up and then we will ban you" ta da fixes the problem just like that, because it is very easy for a group of bullies in authority to decide that anyone they don't like (for example: anyone who disagrees with them or even asks for clarification of unclear rules) is killing the vibe.