No, it's the over-reaction by whoever instituted that policy that ruined the company. They should've cut their losses and ignore the outlier, perhaps make it tad more difficult to copy off data en masse without being noticed, and/or do many other things addressing this risk without ruining the workplace for everyone else.

This is the organizational equivalent of autoimmune disease. Works at every scale. On national/international scale, this is what terrorist organizations are exploiting - do an X amount of damage that may even be counterproductive to their goal, and watch the victim do 1000X damage to itself by overreaction.