I'm pretty sure this would be considered a deceptive business practice by most courts of law. You can't just straight up lie about the terms of a business agreement - i.e. if you say you've evaluated a customer's creditworthiness but you really haven't I think there is a very good argument that any agreement was not made in good faith, however, Stripe's ToS probably requires mandatory arbitration, etc, so I'm not sure what recourse you have as a customer.
Arbitration does absolutely means a bias to the party that requires it. You can't have a long-term relationship with a company and not acquire some bias.
Even if the arbiter is pure and just the company will learn how to represent its side in the best light before the arbiter; it has many chances to learn.
