You're welcome to use bans in your own stream however you choose. It would only be justifiable for sitewide mods to override a ban on themself if they needed to make a public statement regarding sitewide rules.
Our punishment occurs when you decide to leave the site or tell your friends you don't like it. Our goal is for all of our users to have as good an experience as possible, so we try to listen to any problems or ideas people have to make the experience better. Please let us know if there's something specific we can do that will make your experience better :)
Because Imgflip isn't meant to allow multiple accounts - we only allow them because they're hard to enforce and it allows for more flexibility in some cases. It SHOULD be a little more of a pain in the butt to create an additional account, including creating a working email and verifying it.