That was my first thought as well, but I'm actually not sure about how I feel about that.
In the same way that the Craigslist sex section helped sex workers do their jobs more safely (and therefore it was a loss when the section was removed), Reddit's subreddits protect the rest of us from a lot of insane bigotry. The nature of subreddits is actually very important: assholes are encouraged to go be assholes over here and stop shitting up the joint for the rest of us.
Terms of service don't make misogyny go away. Fark's just making it harder for you to poison an entire comment thread--and, by extension, the entire site--with your ugliness. And, to be clear, Fark needed this move very much, because Fark doesn't have the same kind of organization Reddit does.
So I think it might be a mistake for Reddit to stop allowing hateful speech to take place, to ban TheRedPill and other subs like it, because that would just encourage the shitting to resume in the mainstream areas of the site.