Did Collingwood lose to Geelong in R8 By umpire error or not?

When Pendlebury played on and kicked the 'winning goal' from the advantage rule, the umpire revoked the rule asking the original Collingwood player to take his free kick. The siren sounded and the Cats won by default, and now "incorrectly" hold top place, and their coach, a games record of wins for a rookie coach. When i mention this AFL rule and umpire stuff up to people,they just laugh and say dont worry, it was only Collingwood ! Now thats fine i understand that sentiment , but if Collingwood win this years flag under the same cirstances against "your" team, what then will be your opinion on AFL studipity ?