I hate how much of a monopoly they have in the space...
It's not necessarily Patreon that's the root problem here. The problem is the foundations of the financial industry (banks, credit card companies, etc) have complete control over the content and products you can exchange for money.
If Wells Fargo decides that your product or content has offended some random executive, they will call up your payment provider (like Stripe) and tell them to close your account. And the payment provider will do it because they don't really have a choice.