re: That is a bullshite rule

Straight from the horses mouth

ARTICLE 3. COMPLETED OR INTERCEPTED PASS

1) secures control of the ball in his hands or arms prior to the ball touching the ground; and
2) touches the ground inbounds with both feet or with any part of his body other than his hands; and
3) maintains control of the ball after (a) and (b) have been fulfilled, until he has the ball long enough to clearly become a runner. A player has the ball long enough to become a runner when, after his second foot is on the ground, he is capable of avoiding or warding off impending contact of an opponent, tucking the ball away, turning up field, or taking additional steps (see 3-2-7-Item 2).

Note: If a player has control of the ball, a slight movement of the ball will not be considered a loss of possession. He must lose control of the ball in order to rule that there has been a loss of possession.

NFL rule

The man did all three