Not even close. Over at MixedMartialArts.com, I explain why those who suggest MMA referees deserve leeway because of the "subjectivity" of MMA refereeing are trying to have their cake and eat it, too:

While I don't dispute that's true, subjectivity is also a two way street. You cannot at once claim refereeing is inherently subjective and simultaneously say similarly subjective criticism regarding those subjective decisions has no place in the discussion. Subjectivity, by definition, sets very few boundaries about what is off limits or appropriate. If referees are allowed to make decisions based on criteria valid only to them, critics should be afforded the same opportunity to pass judgment based on their own criteria.

The whole thing here.