Let's consider the facts. A look at the biblehub commentaries will show that ZNP's interpretation of key bible passages is not well supported. Anyone can take a look for themselves:
http://biblehub.com/commentaries/matthew/18-17.htm
One example is the Geneva study bible:
(i) He speaks not of just any policy, but of an ecclesiastical assembly, for he speaks afterward of the power of loosing and binding, which belonged to the Church, and he has regard for the order used in those days, at which time the elders had the judgment of Church matters in their hands, Joh 9:22 12:4216:2, and used casting out of the synagogue for a punishment, as we do now by excommunication.
ZNP's views contradict the teachings of these learned Reformers, when he wrote previously:
Two or three are sufficient to bind or loose, in context this refers to judging a brother and even excommunicating him from the fellowship as Paul did. "Telling it to the church" is informative, there is no indication that the church then rules on the case. There is no indication that these two or three need the authority of an elder or Apostle
Matthew Poole also disagrees with ZNP and explains how the church, and particularly those in authority has power to bind and loose:
By the church then must be meant those who had power to bind and loose. Now though at this time there was no particular church formed, yet there were some who had a power to bind and loose. Christ had given such a power to his apostles. These were the present church, and at this time in being. They were afterwards to constitute particular churches, to whom, (when constituted), in force of this precept, such offences were to be told.
Not only does ZNP's teaching contradict that of the Reformers and educated men, it dilutes the authority and power of the Church, elders and Apostles which Christ and the apostle Paul established.