Those TOS are fairly broad and a lot can be read into them. Right now racism and hate speech seem like a fairly low barrier to set but it's a slippery slope.

On the other hand, my problem with Reddit isn't so much the banning of content so much as the lack of transparency and consistency. The capricious nature of the censorship offends me more than the censorship itself. In that sense I suppose that snapzu has a chance of approaching this issue, which all websites have to deal with, in a more open and transparent way