There was no WotC in this game. If there was, I'm sure most of us would have voted Trojan (pancake king troll) or doughssant (who's just going to get banned in a few days and then get modkilled, ****ing over whatever team they're on). It depends, I'm not sure if you were around to remember the saga of Cory, 50% of the time policy lynching him Day One turned up red. He used to spam the game and generally derail town with trolling. Day One is always a stab in the dark and you'd be insane to think it's not. That's why it's usually reserved for spammers or trollers that effect town badly in the late game due to fake/silly claims/gif spam/whatever. Since you seem so keen on pulling a magical case out of Day One, I'll wait to hear from you then.
Oh yes, I fondly remember Cory. That little bugger. Hah.
Day 1 is definitely a stab in the dark, but less so in a PM game than otherwise. You can get much better and much more personal reads on people depending on how the act towards you behind the scenes and compare it to their behavior within the thread itself. But still, all you have to work with in the end is your instincts, analyzing the meta, and making the best possible "guesstimations" you can.
That said, I strongly believe that encouraging discussion between the players involved in the game as much as possible on day 1 can be very helpful to Town during later phases of the game, and a "Let's just all agree to remove Trojan" approach eliminates that aspect as everyone would then be inclined to bandwagon and you couldn't tell the Trojan-haters apart from the scummies. I feel that a policy lynch should not be the main topic of conversation with something like 40 hours left in the day. Around half the people playing has not even checked in yet.