In the editing guidance provided in the help center, it is clear what happens when someone without edit privileges submit too many rejected edits.
What happens if someone suggests a bad edit?
If a user without edit privileges proposes an edit that does not comply with the guidelines above, it is ordinarily rejected in the review process. Even if a bad edit is applied to a post, other users will generally fix it. Users with sufficient reputation may elect to roll back the post to a previous version (by viewing the revision history of the post and selecting the version they would like to display).
Additionally, any user who submits many rejected edits will be banned from suggesting further edits for 7 days
So, when a user without privileges submits many edits, he will be banned up to 7 days. Moderators can also manually ban the user from suggesting further edits.
Now, do we have such ban or penalty for users with editing privilege? (i.e., 2k+ on normal sites and 1k on beta sites).
Obviously, superfluous and drastic edits will be rolled back other community members and moderators. Moderators may even lock the post for the time being. But I am talking about continuous bad edits on various posts without following editing etiquette.
I checked Does Stack Exchange have an official stance on users doing a large number of trivial edits to old questions? before asking this question. It is about trivial edits. The answer says "they need to be educated". There is no edit ban mentioned in answers to the questions.
If editing privilege is abused, I know moderators sometimes send users a message and explain the problem. Apart from that, do we have any edit ban for privileged users that is equivalent to manual ban for suggested edits?