Have they gone to far with the handball noncalls?

This week, we saw another example of the ball being handled in the penalty area but the referee showing no interest. Certainly, intent must be there. But, in this case, the slide occurred with the defender's arm at his side and THEN he raised it. Is this immunity from being called, based on 'natural position' (whatever that is) negatively affecting play? I can see where the referee should protect the defender when the offensive player kicks the ball into the arm of the defender intentionally and from so close the defender cannot avoid contact... but this was not that. I think they've gone too far, and I'd like to see a return to a more strict application of the law. Thoughts?