and even so, unchecking that option does sound like a somewhat bad idea ("Well, we might have been able to sort out things regarding your ban if you had allowed to be emailed, but this way...").
This is not a concern. The option is to allow or disallow system e-mails from the admins. If a mod or admin needs to speak with you personally, we can still look up your e-mail address and send you an e-mail privately, outside the system.