Reddit will also ban subreddits for hosting content that some people may think is "bad", but definitely not illegal. Not that I miss /r/shoplifting, but the discussion itself wasn't illegal. They also banned legal things like firearm schematics and r/brassswap
Does there need to be one? This site seems to manage to avoid it. Quite how you get into the situation reddit did is mystifying to me.
I completely agree that anonymous free speech is not the ideal it sounds.
If we are going to be reasonable a better comparison would be comparing this site to a single heavily moderated subreddit.
As an extreme you have subreddits like https://www.reddit.com/r/AskHistorians/ if you look into the comments you will see a lot of "[ Removed ]" threads. https://i.imgur.com/Q7mXkPd.png
Other subreddits are purposefully not moderated as heavily. It's entirely up to whoever runs it to moderate how they see fit.
What would you suggest the alternative is? I think the real problem is that society is coming to terms with the fact that anonymous free speech isn't all it's cracked up to be.