Now Lotus will have designed the aerodynamics based on the ability to maintain a stable front end under braking, so now their entire design and car balance is compromised because they won't have time to change it now intime for testing.
I'm not an aerodynamcist, but I don't think it requires that much adjustment that it would change the aerodynamic design drastically. Maybe I'm completely wrong but lets put it this way - do they design the aerodynamics around the car's movement under braking? I don't think so.
Just read about it as well. The guys at the FIA sure need more consistency in their decisions. In a time of cost savings, giving the green light for one device (or kind of device) only to switch to red when the teams are already working on it or at least studying it is unwise.
More like the FIA gave "initial approval". But then a team (considered to be Williams) read the regulations more thoroughly and noted that it contravened with the regulation about no suspension adjustment while moving.
This is not the FIA banning it. This is a rival team complaining because it doesn't meet the rule book.
You could say Lotus and Ferrari were foolish for either not reading the rules carefully enough or for assuming that their device would pass.
My bigger question is, why do they limit new devices. You're right, they're in a cost saving situation and rather than allow for advancements or innovation like F1 is known for they strictly limit them. Double Decker Diffuser, Shark Fin, F-Duct, off throttle, etc. and now reactive ride height all banned and just in the past three years. Then you have no freedom of engine development or anything else now really, so why not make F1 a one make.
Double Diffusers = banned because they were an un-intentional loophole in the regulations. They weren't really "innovative" anyway seeing as they'd been around a decade before in sportscars.
Shark Fin = banned presumably for aesthetic reasons.
F-Duct = banned partly because it was a driver-adjusted device and it was getting out of control (watch Alonso driving one handed!) but also because DRS was introduced which is the same effect.
Off throttle = banned because it was difficult and expensive for some teams to develop. Maybe banned due to the horrible noise it made too.
I don't think any of these were unreasonable, Shark fins weren't really anything particularly innovate or amazing.
The problem with allowing innovation and open-regulation is that costs spiral out of control and you can inevitably end up with one team dominating. But at the same time, what makes F1 what it is, is that innovation, technology and the whole idea that each team has design and build their own car.
I think the FIA could do a better job at keeping costs in control while keeping more open regulations but I can understand that its a difficult if not impossible job.