Man, I woke up at 5am to watch the race, it was one of the best races in years, and now they've just totally killed it.
Regardless of any argument about whether he gave the place back sufficiently to satisfy the rule, whether the punishment was too harsh in light of what happened later, or whatever, there's one simple thing that negates any of that - as others have pointed out earlier, Hamilton didn't do anything wrong.
If you watch the video, Hamilton has a much better run than Raikkonen into the chicane and they are side by side on entrance. Under those conditions, both drivers are required to give the other room to race. Raikkonen clearly does not. He uses the extreme outside of the track, leaving nothing near a car's width of space for Hamilton.
It's not reasonable to expect Hamilton to drop back; as I said, both drivers are entitled to room to race alongside each other, neither can legitimately block out the other entirely in that situation. Besides, on a wet track on dry tires in a slow corner, off the racing line, *trying* to hit the brakes and drop back behind Raikkonen cleanly would've been extremely tricky for Hamilton there, and he could easily have ended up spinning it. Given that they entered the corner side by side, it was entirely reasonable for Hamilton to run wide when Raikkonen did not leave him space on the track, and there's no case to answer in any way. If Hamilton had been clearly behind on entry into the corner the case would be entirely different and it would be legitimate for Raikkonen to use the entire track to try and block him, but he Hamilton was not behind.