(it's not obvious whether the change would be for the better)
It would certainly be for the worse if the banning was selectively enforced based on whether the mod in question liked the opinion being expressed.
I don't see a certainty in this. Policies have downsides. It's not clear how significant a bit of systematic injustice and bias would be compared to the other effects.
I've gotten sufficient evidence from support that voiceofra has been doing retributive downvoting. I've banned them without prior notice because I'm not giving them more chances to downvote.
I'm thinking of something like not letting anyone give more than 5 downvotes/week for content which is more than a month old. The numbers and the time period are tentative-- this isn't my ideal rule. This is probably technically possible. However, my impression is that highly specific rules like that are an invitation to gaming the rules.
I would rather just make spiteful down-voting impossible (or maybe make it expensive) rather than trying to find out who's doing it. Admittedly, putting up barriers to downvoting for past comments doesn't solve the problem of people who down-vote everything, but at least people who downvote current material are easier to notice.
Any thoughts about technical solutions to excessive down-voting of past material?