Usually I'm not a fan of rogue retaliation but. . . I was entertained in this case, particularly if it turns out Spain was in fact faking fouls.
I don't believe all "flops" are created equal. I think there's a lot of players who get legitimately fouled, pushed, or held and they exaggerate the contact in an attempt to draw attention to an illegal play. I actually don't have much of a problem with that.
For instance, Ben Wallace would be frequently shoved in the back while he had the inside position for a rebound. Had he merely let himself get pushed under the basket and out of position, his opponent would have gained an advantage through illegal means. Instead, many times, Wallace would intentionally time his jump to coincide with the push in order to allow his body to move forward, thus creating a clear look of displacement to the officials (he'd usually flail his arms for good measure). Again, I never minded that because it was merely an exaggerated response to a legitimately illegal defensive action.
On the flip side, I've always had a problem with players who purposely faked contact and then faked their falls. I guess the best description for this type of flop is "the soccer flop". I reserve this for situations where nothing illegal is occurring, but a player is looking for an out or looking to create the illusion of something illegal. For me, this would be a ballhandler with a defender gently on his hip suddenly spasming and falling to the ground. I have a particular displeasure for those who fake a fall and then also fake an injury.
In these Olympics, I haven't seen a ton of the bad kind of flops, but I've seen enough to know it exists. As such, if it really was a situation where Spain was faking falls in order to draw fouls that didn't exist, I don't have too much of a problem with the rogue justice.