As ever I will ask if online is really that valuable a thing.
It is weird to get a ban on PS5 since PS5 isn't hacked as PS4 did.
Someone acting a fool online, using dodgy credit cards (or chargebacks) and so forth do cause bans. I might even wager on that being more common than bans for hacks.
I don't think there's been a way to unban any console ever even with a hack which PS5 doesn't even have a hack.
Plenty of consoles get unbanned, especially with hacks.
Most companies these days do more than ban accounts but that usually amounts to "there is some unique number within the system, ban that". If the companies are good it will be a truly unique number that is burned into the heart of the system, read by hardware and noted on big list of numbers kept in the factory.
As good security and Nintendo (not that Sony or MS do that much better at times) then non unique numbers, not listed somewhere (basically make a new random number up, maybe even grab one from your online game*), accessed by software which the hacks would have total control over (and not even something tricky like 500 versions we update every other day) and so forth was the order of the day. Sometimes it would have involved having a friend that did not care about online give their numbers over, grabbing them from display models, or buying a dead board to grab the numbers from (see people buying stacks of RRoD boards for the 360 to try to bring back to life for long enough to grab keys when JTAG and RGH online lobbies for call of duty was a thing), or maybe stealing some (various things proposed to harvest headers for 3ds and Switch games).
*see Mario Kart ban cheats for the Wii. The Wii using mac addresses that were stored in software and transmitted with normal gameplay. If random changes were not working could have harvested it from those. Instead people made cheats they knew would be detected by anti hack things but either set their own mac (again kept in memory and read by software, and essentially a range of valid options rather than a list held back on the server somewhere) to that of their opponent or sent them hacked things to trip detections.