personally, i think it's a stupid rule that doesn't make any sense, and i'd love to see a bifurcated system that lets us hackers treat everything like red stakes.
How would you do that? The problem is, there's no reference point. By definition, if you're dropping where you think the ball was, you're wrong, because you've looked there and not found the ball. Sure, the ball may only be a few feet away from where you're searching, but those few feet can be the difference between a bogey and a 10.
Additionally, what's the criteria for "treat it like a hazard?" Is it only waist-high native grass? What about woods? Only thick woods? What about sparse woods? What about bushes? Really thick rough? Kind of thick rough?
If there's nothing on the line, then all those questions are moot. Drop it wherever you want and penalize yourself whatever you want, or not at all if you prefer.
But if whether you make a bogey or a 10 matters because of a money match, a competition, or a handicap posting, then you've got to have a rule which uses a reference point, and people (in theory) need to play by the same rules. The problem with most proposals of bifurcated or "relaxed rules" is the impact of such rules have not been thought through. Again, in a casual round with friends, none of that matters. Play by whatever rules you and your buddies want. But whenever a comparison of scores is involved, it only works if people are playing by the same, well-thought-out rules.