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The PF states you can collect in confidence if they provide a cert. They also claim to be the Gold Standard!
For classic US stamps, at least, I think the PF
is the "gold standard" -- at least I don't think there is any consistently better expertization service for those stamps. They are not, however, 100% accurate and they are not perfect; they will sometimes miss or omit something, and once in a while even get their opinion totally wrong.
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If this was a $100 or $200 stamp I would let it pass as someone was sloppy. However, for a $17,000 stamp I would expect a number of experts to review the stamp. I would also think that the lead expert would double check the info along with Larry Lyons who signed the document.
While in principle I agree that multiple experts would be better, alas, I think you overestimate both the number of qualified experts available, as well as the amount of time each expert can devote to one cert. (I guess you can always resubmit to another service to get another expert opinion.)
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The fact that the PF missed this very obvious problem on a valuable stamp `should open a question about if the philatelic community can really trust a PF cert!
A cert isn't a guarantee, but more than 99% of the time, a PF cert will be in substance correct. Collectors know that, on rare occasions, the cert will be wrong. But what's the alternative? There's personal expertise, of course, for which there is no substitute -- but if you do not have, yourself, the expertise to say confidently "this stamp is genuine and unaltered", then you're going to have to trust
somebody's opinion. Better to have a neutral party with verifiable credentials (like the PF expert) express an opinion, than just trust the dealer/seller, who has a personal interest in selling you an expensive stamp.