You are right, but I put some blame on dive operators (and I have heard this) who emphasize this requirement to the point of saying that if you don't have 500 PSI when you get back on the boat, you will not be allowed to do the second dive. That puts a lot of pressure on a diver to blow off the safety stop and ascent too quickly.
perhaps they should make the requirement to be back on the boat with 500psi and require a 3 minute safety stop by every diver both of which will be monitored.
If the diver isn't smart enough to manage their gas, they probably aren't smart enough to realize that their safety stop isn't actually being timed by the DM
It's unfortunate that some divers need to be protected from themselves