"Your game already has a report and block function which solve 99.99% of all problems that crop up in the game and have done for as long as they have been in the game. The other .01% of cases a GM or local authorities can handle it"

Unfortunately, this is not the case from what I have seen. I've seen players park large mounts in the middle of community events to grief. I've heard of stalkers using the player search function to follow their victims in the open world. I've seen people run up to open housing plots where a group of players is trying to buy from the placard and spam flashy skills and dissonant bard performances in the middle of the group. I've seen max level gathering and crafting bots go unbanned for years because they are using tooling more sophisticated than the Special Task Force detection program. None of these issues can be solved by blacklisting the offending player.

Also- I've seen that you are concerned about the intent behind possible questionable actions. The wording of the policy changes state that GMs can use their discretion. This means if some one files a frivolous report that could possibly maybe technically break the new rules, the GMs are not obligated to act against you. If anything, the new policy takes intent even more into account.

As for lighthearted trolling- as long as you keep it to people who you know are fine with those interactions, you should have nothing to fear. No one is going to try to police what you do with closed friend groups. However, if you troll in public channels without caring who might be hurt, then it would be best to take those statements private. Not just for the sake of not being banned, but for the overall community health.