In this case, YES!
It's not that the OP bought a stock ship with too low a FSD to get out of the system he was in, that would be a game mechanic's issue.
He deliberately removed the adequate FSD & replaced it with one that clearly wasn't up to the job.
To me that's not a game design fault, it's part of the C&P consequence that FD have quite rightly introduced. It's all on the OP, no one else to blame here!
This makes zero sense. It say that cmdrs may be stupid and therefore is needed change things ... but this is not how Elite work from start, this game 'rewards' bad cmdrs decisions with rebuy screen. And if you first cripple your ship and then go to action which can end with your illegal act, then 'reward' which you get should be appropriate. (I don't see need change C&P due OP complain) It's like (edit .. it is worse as) flying without insurance ...
ED does not hold your hand at all. This is very much a "trademark" of the Elite experience, the "root, hog, or die" approach. The fact that you can screw up badly enough to lose everything, no matter how many hours of grind, no matter how many displays of awesome skill it took you to get it. Ultimately there is absolutely no escape from the consequences of your decisions in-game, no going back to a previous save-spot, no "restart the level" and those consequences can be a lot more serious than changing your righteous/wicked balance or selecting an alternate ending with different party members alive when you run the final "beat the game" cut scene. You absolutely can find yourself starting over from an "oops" that you didn't realize in advance would carry quite the repercussions that it does.
This is part of what makes this game "Elite" and not "some other game".
I agree with the posts quoted above, no hand holding please, if someone is 'stupid' enough to fit an undersized FSD, please allow them to.
Note that building the fastest possible Viper III (745m/s, with 932 m/s boost) requires not only a 2D FSD, but one with the 'stripped down' engineering option.
While personally I'm not good enough to use such a racer without adding some mass for shields, this is a perfectly valid build for Elite Racers events such as the Okinura Station Sprint Challenge. So please don't take away the option.
It's certainly possible to pick up a wanted status while wantonly disregarding the speed limit, tearing around stations at 900m/s. I for one am perfectly happy to accept the risk and pay the consequences if I mess up.