It's a game on PSN, therefore if you do anything to manipulate your network to gain an advantage in a game, you can be banned.
And it's not just quitting a game, don't be daft. It's taking advantage of half of a second of lag in order to cheese the hardest challenge in the game.
And about the source, fair enough. It is a bannable offense, so you're best off not participating.
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I never said it wasn't bannable, nor do I agree with cheesing. The fact remains if anyone were actually banned for this there would be evidence, screenshots and the like. I have no doubt people have been banned for violating both Bungie's and sony's ToS. Not for this though. And regardless of what the glitch is it boils down to dashboarding the game, or quitting. This glitch could happen with Destiny's server stability on its own. I repeat, no one will be banned for what amounts to quitting the game or losing your connection, regardless of intent. So, like I said before, if I am wrong please provide evidence.