Yes, because the latter doesn't stifle discussions already in progress. It's the difference between saying "you can't talk about this here" and "you can't talk about this at all".
That doesnt seem meaningful, if a mod happens to catch it fast no one sees it, if she catches it slow, people can begin and continue a discussion. If it was based on any kind of fundamental right of discussion, it is hard to imagine moderator attention and reflex speed factoring in to the underlying principles.
Plus, moderators already use bots to instantly pre-ban things things and then go through and manually whitelist them.
The distinction is between banning for posting vs banning for upvoting. One reasonable argument I can see is that Reddit goes to some length to hide what you up and down vote in every other context, and people might be able to use the ban tool to dox people who thought votes, as opposed to submissions, were wholely anonymous.
I don't see why the mods ever have to know the names of those who upvoted (or downvoted) to be able to ban them. A message would be sent out to those who were banned, letting them know why, and if they choose to reveal themselves as having made the bad vote... no one's doxxing them except themselves.
