
I’m starting to suspect that Reddit bans accounts that have been long-standing and in good standing, only to take them over with bots, because accounts with longstanding credibility are a powerful tool for bots to take over. Because once we’ve been banned, we can no longer login to our account, so we can’t even go in and check if it’s been taken over.

You are correct, you will no longer be allowed to establish a new account or log into any of your old accounts. All you can do is lurk & read but not interact. I’ve had five accounts over the last 15 years on reddit, they are all dead to me because same reason you’re experiencing.