No, that's exactly my personal opinion as well and how I would handle a situation like that, or like to see it being handled.
I cannot speak on behalf of CG in this case either, as I do not make that decision,
but I think admitting being wrong, apologizing, and eg asking for one account being unblocked so they can continue to use the site
(while promising to follow the rules this time, or to accept the consequences if they don't) would go a long way.