Usually I'm not a big fan of legislation, but in this case I completely agree. Companies unilaterally taking away anything you've paid for is effectively no different from theft, and ToS shouldn't be able to escape that. Or even if it's a free service but it's something you've built up value in -- a history of photos, messages, emails, etc. -- it's similarly effectively theft.

I agree there absolutely needs to be a form a habeus corpus here with arbitration to hear from both sides. And what's more, even when an account gets shut down, an export of all data must be provided, and a full refund of the purchase price of any digital licenses/credits still active. So even if a spammer takes over your account and Megacorp isn't convinced it wasn't you yourself that decided to spam, you still don't lose your data or money spent -- it's ultimately just a (very big) inconvenience.