Well the codes of conduct in question actually specify that the conference is only to take action if the reporter wishes that to be the case. Second, the codes actually have measures to prevent "moral panic" in them, in the form of getting both sides of the story, and in the case of pycon, using some form of consensus technique to discuss the ramification/consequences. This doesn't mean expulsion, it could simply mean a warning or a requirement to stay away from the reporter. These are reasonable reasonable responses to unwanted continued/"forced" discussion in an elevator.
Further should overreaction occur, there will in fact be backlash against the conference and organizers. This is the internet. You know it is true.
And no it isn't comparable to privacy concerns. It is comparable to people rejecting theft laws because consequences for a wrong action are unfair and someone could be framed. I doubt you rail about how theft laws are unfair because someone could be framed. There can be reasoned discussion about actual penalties being too harsh or not harsh enough, but railing against the existence of such laws only benefits thieves.