It is a fair and just punishment.
Chelsea seem to consider the rules are merely guidelines. Chelsea aren't the first to have this punishment meted out to them - if memory serves, Roma have been punished in a like manner in the past (and a Swiss team as well???).
It beggars belief that Chelsea were bitching about Manchester City recently when Chelsea are by far the worst in the Prem for this sort of behaviour.
Perhaps this will force them to realise that they have to play by the rules.