Why can I ping an IP address but not 'traceroute' it?

Try using a different method in your traceroute, for example TCP SYN or ICMP instead of the default UDP method.

For example note the difference between ICMP and TCP:

x@x:~$ ping -qc4 94.254.2.51
PING 94.254.2.51 (94.254.2.51) 56(84) bytes of data.
--- 94.254.3.90 ping statistics ---
4 packets transmitted, 4 received, 0% packet loss, time 3009ms
rtt min/avg/max/mdev = 7.781/7.807/7.836/0.067 ms

x@x:~$ sudo traceroute -I 94.254.2.51
traceroute to 94.254.2.51 (94.254.2.51), 30 hops max, 40 byte packets
1  <REDACTED>
2  <REDACTED>
3  <REDACTED>
4  <REDACTED>
5  netnod-ix-ge-a-sth-1500.bahnhof.net (194.68.123.85)  1.307 ms  1.299 ms  1.432 ms
6  sto-cr1.sto-cr3.bahnhof.net (85.24.151.165)  7.166 ms  7.364 ms  7.336 ms
7  sto-cr3.gav-cr1.bahnhof.net (85.24.151.195)  7.251 ms  7.099 ms  7.220 ms
8  zitius-a322-gw-c.bahnhof.net (85.24.153.249)  7.059 ms  7.074 ms  7.145 ms
9  h-2-51.A322.priv.bahnhof.se (94.254.2.51)  7.619 ms  7.750 ms  8.070 ms

x@x:~$ sudo traceroute -T 94.254.2.51
traceroute to 94.254.2.51 (94.254.2.51), 30 hops max, 40 byte packets
1  <REDACTED>
2  <REDACTED>
3  <REDACTED>
4  <REDACTED>
5  netnod-ix-ge-a-sth-1500.bahnhof.net (194.68.123.85)  1.621 ms  1.683 ms  1.817 ms
6  sto-cr1.sto-cr3.bahnhof.net (85.24.151.165)  8.530 ms  7.861 ms  7.820 ms
7  sto-cr3.gav-cr1.bahnhof.net (85.24.151.195)  7.724 ms  7.539 ms  7.486 ms
8  zitius-a322-gw-c.bahnhof.net (85.24.153.249)  7.572 ms  7.537 ms  7.553 ms
9  * * *
10  * * *
11  * * *
12  * * *
13  * * *

Traceroute is based on ICMP or UDP packets. It effectively pings each router on the path between you and censored.censored. It increases the Time-To-Live (TTL) for each subsequent packet it sends (from 1-30 normally) expecting that as each packet is sent with an increased TTL from the last, the next router in the path will return an error code.

If hop 6 isn't responding, it's probably specifically blocking ICMP/UDP messages. Ping therefore works because the routers between you and it are just passing the ICMP/UDP packets through to it rather than responding to them, as they do with a traceroute.

I saw no answer to the why part of the questions.

Several ISPs are known to make their routers stealth to traceroute in two ways: they either don't decrement TTL in IP packets (making themselves IP wormholes) or they don't respond to expired TTL while still forwarding ICMP.

The reason is to keep their internal network topology private. That's all.

Issuing traceroutes from/to multiple sources/destination reveals information on network topology, which is something like not everyone appreciates.