I read it as, "there's no big conspiracy going on here, people are legitimately debanked, but that legitimacy comes from a horribly designed system that bundles lots of unrelated financial activities and risk profiles together, applies some arbitrarily regulated concerns, and then ends up barring people from what should be the basic right to transact"
Thorough article on debanking in western context and for crypto companies specifically. If you were willing to spend four hours listening to a Joe Rogan guest and fooled yourself into feeling informed, you have no excuse not to read this.
https://www.bitsaboutmoney.com/archive/debanking-and-debunking/
Discussion
Although, this does explain why I've seen lots of financial institutions be ok with receiving money from an exchange but not sending money to one. I guess one of those transfers carries a lot more "chargeback" risk to the institution than the other