Regarding whether or not banning a player is the right deterrent to try to prevent this kind of behaviour, I do think it has it's positives over the other suggested solutions of fines and penalty runs. I basically don't think fines would work. I know it's a different situation, but fines were fairly widely regarded on here as inadequate solution to combating slow over-rates and I know that's a case of the captain deciding that the money is worth less than what they percieve to be the benefit of wasting time, but I think the fact that it didn't really stop anyone shows that it's possibly something that players' care relatively little enough about that it won't prove a deterrent to an essentially emotional action.
Penalty runs would appear to be a good way as it's something players care about that whilst it might not stop them from doing something, it'll have enough of an impact that they'll not do it again, at least for a while, the advantage over bans being that fans don't lose out on being able to see them play and the quality of the cricket isn't lessened by the absence of a class player.
I do have couple of comments, however. One is that a few people have commented the advantage later in a series that the opposing team would gain from a good player being banned could incentivise them to try and bait them into doing something stupid and I'd imagine than the chance of strengthening a teams position in a match would have much the same effect.
The other comment I have regarding the implementation of a penalty run system, is that as they would have a fairly immediate impact on the match, decisions regarding whether to award them and how many to award would have to be made fairly quickly, hopefully most incidents would be straightforward enough so that the correct conclusion can be reached promptly, but I fear that inevitably mistakes will be made which could potentially impact the result of a game (I know it'd be an uncommon scenario, but it's still a possibility) - at least if someone were to be banned due to incorrect awarding of demerit points, they could appeal it before the next game, get it overturned and no harm done.