Occam's Razor suggests the former. Here is a perfunctory "I don't know you" - nothing below may be applicable.
There are power-hungry mods, no doubt. They can be politically oriented in either direction, or sometimes just like to be the monarch. But I've been around reddit for over 15 years now, and in my view if you're regularly being accused of being toxic, I'm inclined to believe that you're the cause. And it may not be due to the factual nature of your posts, but the manner in which you share them.
Again, I don't know you, and my experience certainly can't generalize to everyone else. I was a mod for about six months, hated it, but that gave me all the insight I need into how dishonest (or possibly not at all self-aware) people can be when recounting how they were "wronged."