So if someone make a wrong accusation of someone else or if they make a death threat or doxx someone the comment should just stay up. Am I hearing your position correctly?
And I think you missing something. People perceptions are different and they aren't necessarily "correct", yours and mine included. Report doesn't automatically remove someone, but it does allow admins and mods to see it, in other word, get a third party to look at it. Multiple reports also mean more people thinking this is harmful. Just because you don't agree with other people's perception doesn't mean they are wrong and you're right or vice versa. Not to mention that certain kinds of harassments and hate speeches directly break the ToS.
Furthermore, reporting != banning. Reporting on a comment is the voice in that comment is listened to, and it's been decided that it's harmful.