More then a few of us are considering quitting entirely
That's generally the point. If Riot bans you, it's because they value other's enjoyment of the game over your business.
if someone gets reported by 4+ people they get autopunished or autobanned
That's false.
I had 1 friend who got a 25 game chat restriction and then banned without even a 10 game chat restriction first.
I sincerely doubt he didn't receive a 10 game restriction first. And the ban after 25 game is how the system works: 10 game chat penalty, 25 game, 14 day ban, permaban. There are ample warnings at each step, including on at the 14 day ban to tell people that their next punishment is permanent. The only things that trigger escalations in that system are hate speech or calls to self harm, which result in an immediate 14 day ban from nothing, and those are manually handled by a Rioter (or if your toxicity is just so bad it deserves to get moved up the line. These are also handled by a Rioter.)
95% of the players in this game are toxic at some point, you made a competitive game and now you're punishing people for being competitive and talking trash in it.
Also false. Very few people are toxic enough to get any kind of a punishment, least of all any kind of ban. And no, you aren't being punished for "trash talking", but for creating a toxic environment that is detrimental to the other players' enjoyment.
Now, if you have any chat logs you would care to share, myself or another arbiter can identify what it is that caused the punishment.