Too many people are focusing on the cheaters not being sanctioned. Fine, whatever. But the "should" situation is very different from the "is" situation. Everyone knows what should be done, but what can be done is very different.
The issue is the way WADA undermined its own credibility through this process. By moving meldonium from the monitored to banned list without enough scientific research (in its performance enhancement, its potential harm, or possible glow time), they've undermined their efforts to clean up the sport. Leaving small holes allows for these holes to be exploited in later court cases with this, or with other new additions to the banned list.
Dopers are already able to exploit holes like inadvertent use/tainted supplements, back dating TUEs, and altitude/dehydration/sickness with regards to ABP.
WADA just opened up another hole for their future. Imagine if activogen gets banned, or Tramadol. WADA showing a history of banning substances without thorough investigation opens up athletes caught taking these for "I stopped but it didn't clear yet" or "I stopped but I'm a shotputter with way more bodyfat, and WADA doesn't know how that changes clearance times." Or even "Yeah I took it medically but WADA can't show its performance enhancing"
Those are extreme examples, but my point remains.