I disagree with that strongly as well. Looking at the main thread on this post, every single flagged comment looks perfectly justified to me, as an example.
If such suppression is common, it should be easy to point out comments that are unjustifiably flagged?
I also disagree that the system is "incredibly punishing"-- at worst, some other people won't be able to see your comment or post, you don't even get banned or anything.
I'm quite happy with how moderation is being done on this forum compared to basically anywhere else.