Check the EULA yourself then, there is a lot of "Frontier may" in there. They simply decided that handing out punishments left and right would make it worse for everybody.
Actually, handing out punishments left and right would be better for everybody, not worse, that's a proven fact, many times over. Games with strict enforcement of the rules see no where near the amount of rule breaking, people don't do things when they KNOW they'll be punished for them very often, human nature at it's finest there. Lack of consequences, to hell with the rules. Consequences not only exist but are strictly enforced, people follow the rules very well. The BEST servers for PvP games were always the ones with the strictest rule enforcement, as anyone using hacks or exploits or griefing was removed soonest. I admin'd a number of game servers for a hosting company for a few years, we had very strict rule enforcement and we had some of the highest player numbers of all servers for the games we hosted(RtCW, BF1942, Q3, UT) and made a lot of money off them due to that(advertising).
Now, with THIS playerbase, it might present problems at first, we have way too many extremely entitled people who think that whatever they want is what they should get, rules don't apply to them. But it wouldn't take a month before that problem was self adjusted, they'd either shut up and play by the rules or be permbanned and not ever be a problem again.
People like to know the game they are playing online has rules that ARE actually enforced, otherwise, the game gets a reputation like Elite: Dangerous has, you can do whatever the hell you want, FD doesn't do a damn thing, use hacks, griefer, combat log, no worries! FD needs to stop being so damn modern British and start being more Imperial British, you step out of line, you get the lash. We'll see less of the problems within a month, I'll lay real money on that, I've seen it work every single time it's been done.