It seems fair to me. Because a forum member posted an inappropriate post that was moderated does not mean that every post he writes will be inappropriate, so, yes, that poster is still free to continue to post. Any attacking or inappropriate posts are edited by our moderators.
Anytime someone posts on an internet forum, their posts are visible to anyone who has internet access. Anyone who posts needs to know and understand that their posts can be seen by everyone. The posts cannot be made available only to a certain number of posters.
A poster can choose to protect himself by either refusing to reply to the posts of a forum member he considers unpleasant or by blocking his posts so that he is not forced to view them.