The important facts, irrespective of the correctness of app suspension are:
a) App suspension led to Google Wallet suspension. Google Wallet can be used as a payment processor, so this decision could have affected entirely independent revenue streams. It's inexcusable for Google to do this!
b) Google support is awful. This is a known fact. AdSense suspensions are probably the most common. I've been affected by one. Google does not answer. Ever. Period. (well, if you're lucky you get a canned response).
The conclusion is that an irresponsible and deaf company now holds power over huge swaths of people.
I'm uncomfortable. And so should you be.