No, you're absolutely stupid.
Exact wording:
A Committee would not be justified under Rule 33-7 in waiving or modifying the disqualification penalty prescribed in Rule 6-6d if the players failure to include the penalty stroke(s) was a result of either ignorance of the Rules or of facts that the player could have reasonably discovered prior to signing and returning his score card.
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33-7 is called the HDTV rule and is meant to protect players from things people can see on TV that they themselves cannot see on the course. The rule explicitly states that a player being ignorant of the rules and that if a player does not proceed properly because of that ignorance the player gets no coverage from 33-7.
Ok, well since you're being so polite in this discussion:
According to the USGA website, the "revision to Decision 33-7/4.5 addresses the situation where a player is not aware he has breached a Rule because of facts that he did not know and could not reasonably have discovered prior to returning his score card. Under this revised decision and at the discretion of the Committee, the player still receives the penalty associated with the breach of the underlying Rule, but is not disqualified.''
In short, prior to discretion being given to the officials, the problem is that the player would be retroactively assessed the 2-stroke penalty after the round for the improper drop, thus making the scorecard the player signed incorrect resulting in an automatic DQ. The point of the rule is that the player obviously didn't know they signed for a wrong card and had no way to know that at the time (since it wasn't yet determined the drop was illegal), so they are able to still penalize him properly with the 2-strokes, but don't have to DQ him based on the wrong scorecard.
Even Paul Azinger, who has DQ'd for something very similar, is saying this is absolutely the right decision.