Splanking disrupts the non-violent nature of the game. It's something I don't want to see in the new version of the game. After you've been splanked by Jesus Christ, it destroys the fun mood, and it just gives troublemakers an opportunity to make trouble.
I think that really you'd have less of a problem if you just sort of... chose not to care. Typically, being bothered by things like this is based upon some level of effort to do so. What you can do is make an effort to react in a somewhat unexpected fashion, such as B3's method of hugging those that splank.
Sorry, @Seeen, can't agree that I had to make an effort to dislike it, I just don't care for any hint of violence, however expressed.
But Lill Missy leaving 40,000 bears in your house. Now THAT is dishing out the hurt.
Glitch had a non-violent tone that splanking might not fit into, but one of the things that stood out to me was how uninterested a lot of Glitchen seemed in splanking despite it being available... As evidenced by comments in this thread such as from Artemis, I think it's possible for us to be respectful with it.
I don't think it should be removed, though.