For sure your right man, for sure you are correct, but lets take it a little further and say that this was initiated by the SEC itself as a means of allow the huge short position to be covered. Not doing so could have meant the end of some very respectable companies.
This seems to be the growing pattern for the SEC to handle the short/naked short position in many companies which have significant jumps in PPS and never quit fall back for shorts to cover.
Is it fair? of course not Do they beleive the sacrafice of a few is a good thing if it helps the overall situation of many? absolutely Yes.