This.
If they cant even get basic penalties right such as DPI... why are we worried about the process of a catch rule at this point? How are they going to implement an animation of a guy going to the ground and bobbling a pass. In Madden, it's as simple as it's a catch. A Drop(aka pass bounces off WR or DB), or an overthrow.
Now if we got those things working as they should, then yes, lets explore the option of finding a way to make this work with better player/ball physics.