The reddit admins/TMOR agents are trying to avoid banning /r/conspiracy outright because that would cause too many users to get pissed and actually move to other free speech platforms (like here or voat), where they might be exposed to the truth.

So they want to slowly ban every reddit user account that tells too much truth, while killing any honest discussion of the ruling class by mass shadow deleting comments that come to close to the truth.

They want to keep /r/conspiracy running, but they have transformed it into a dead end for conspiracy truth seekers.