Yes, I'm quite aware of that. It's an analogy.
Both of those things actually. You can always find a case of something working where it generally doesn't or shouldn't.
The choice of punishment or correction is always to the discretion of the coach and the team. Each year I've coached, something that worked the year before, didn't work the year after, but then worked after another year.
Personally, I'd want conditioning to be seen as something beneficial to the athletes I coach, not a punishment. Conditioning makes them better athletes, so why would I use it in the negative?
The *only* time I use conditioning as a punishment is that in our program, if a flyer hits the ground even a little bit, everyone on the team does 10 push ups. This isn't because we think that push ups will stop them from dropping people, it's because it creates a very real reminder about safety and consequences. But having them do 20 minutes of man makers won't teach them anything but to be resentful of the group who made the error and "caused" the conditioning.