I have seen the same post and picture on several different forums. The same thing applies to strung cables.
For a CODE inspection, depending on the inspector, it MAY pass code (minimum acceptable) if you point out other applications.
The old story - "You are never wrong if you meet the minimum code, but you may not be right".
For a SALE inspection, the main criteria is for the safety of the purchaser's family. Someting can meet code, but it can be pointed out as a safety problem.
You may get a permit for construction, but you can have a problem ($$) when it is a safety hazard that should be corrected before a sale.
Some people think the 4" maximum is crazy and stupid, but many children do die or are paralyzed every year. You certainly could not a hand rail system like that around a pool and sleep at night.