I try to defend PSA, but the fact is, it's impossible to do a decent job with this stuff when you don't know the sets. And it's frankly impossible for their graders and other employees to know all the sets. So these errors are bound to occur.
I've never sent anything to PSA, or any of the other grading companies, so how does it work? Did the person sending it in misidentify it and the graders not catch it, or are the graders solely guilty of the misidentification? As many graded Wonder Breads that I've seen identified as 1st Series Tans, I can understand the sender labeling it incorrectly either unscrupulously or innocently, and I can understand the grader missing those but not this one.
I have to agree with Tom Keen here. The ones with bent corners, writing, and no borders make my bicycle sound like a motorcycle, just like the gem mint 10s do, and those acrylic cases just break the spokes! After all, it's just a pretty picture or drawing on a piece of cardboard that cost about a penny to produce. Collectors (and dealers) set the value by buying and selling. If no one is willing to pay the prices, they will go down.