I'm pretty sure this would be considered a deceptive business practice by most courts of law. You can't just straight up lie about the terms of a business agreement - i.e. if you say you've evaluated a customer's creditworthiness but you really haven't I think there is a very good argument that any agreement was not made in good faith, however, Stripe's ToS probably requires mandatory arbitration, etc, so I'm not sure what recourse you have as a customer.

Arbitration doesn't mean no-recourse or bias toward to the provider.

Arbitration does absolutely means a bias to the party that requires it. You can't have a long-term relationship with a company and not acquire some bias.

Even if the arbiter is pure and just the company will learn how to represent its side in the best light before the arbiter; it has many chances to learn.

The other side has one chance to learn.

Right, think about it as a consumer. I don't want a gas station to run a credit check, or ask for proof of employment before I fill my tank. They just accept the card. But that does mean they bear risk for chargebacks if the card was stolen.