Quite a few people on reddit are frustrated by how opaque moderation is, but looking at the meta community of power users that seems to mod the bigger subs, I doubt the devs will ever copy this feature.
The fact that being banned from one sub doesn't usually get you banned from another sub is totally understandable, but combined with how easy it is to make a new account, in practice it's just never-ending whack-a-mole with shithead posters.
The role of mods is to delete off topic submissions and remove illegal content. Nothing more.
Switching between accounts on Twitter means your follows/followers are lost, switching accounts on Reddit doesn't lose you anything (unless you're subscrived to private subreddits or are a moderator for a subreddit)
Disclaimer: I made this
Many mods of popular subreddits abuse their power and enforce their world views on redditors. This is only possible because reddit admins don't care. That's why there is so much drama now and again when mods will wholesale-ban or delete legitimate content that doesn't break the rules and they just won't respond to questions. Or even worse - they respond by taunting the redditors who would like to know the reason behind the decision.
I was banned from a large sub for linking to statistics on official government website to help support my argument. This happens all the time on reddit.
And it's not like it's only my experience. Ask anyone on reddit what they think of mods and you'll hear the same story.