I mean, this isn't true, you can see players starting to slow up because of it.
I think that had more to do with the positioning on the sideline more than anything else. Not only that, when a catch is imminent, players have to slow up or they're going to fly right by the catcher (more times than not anyway). I think the anti-Iowa crowd (not specifically you) is seeing what they want to see.
I think that was a terrible call and that this rule needs to be reviewed and abolished. If someone doesn't know how to signal for a proper fair catch let them get blown the **** up. Or create a hand signal for a waive off that players have to follow (and make waves about it's dissemination). Not to have a clearly defined way of waiving teammates off, which is not only part of the game but fundamental, is so boneheaded I don't know where to begin.
You know those old town rules that "technically" exist, as they were created in a different time, but never actually abolished because everyone in their right mind knows they are stupid, therefore never enforced, and therefore never stricken? Well, this rule feels like one of those. "Sorry sir you were seen kissing on mainstreet which is technically illegal under city code 'Dumb-1a'. Here's a $100 citation."