Would you be just as outraged if someone started running an online business via their lemmy.ca profile and then their account was closed for spamming (or breaking some other part of the TOS)?

Alphabet is not a good entity. They took what was Google and YouTube, and just crushed them into the same corporate hellscape that is every big business, BUT Alphabet does not force anyone to base their career on their platform. If you choose to use their platform you are subject to their rules whether you know what they are or agree with them. Like moving to the UAE for a high paying job, if you break the local, ridiculous and arbitrary laws, you are going to loose your job and maybe land your ass in jail.