Whether you think it’s a rationalization or not, the claim in the OP is misleading at best. It sounds like you’re paraphrasing them as saying that they don’t recommend that Good Ventures fully fund their charities because this is an unfair way to save lives. GiveWell says nothing of the sort in the very link you use to back up your claim. The reason the you assign to them instead, that they think that this would be unfair, is absurd and isn’t backed up by anything in the OP.
Whether you think it’s a rationalization or not, the claim in the OP is misleading at best. It sounds like you’re paraphrasing them as saying that they don’t recommend that Good Ventures fully fund their charities because this is an unfair way to save lives. GiveWell says nothing of the sort in the very link you use to back up your claim. The reason the you assign to them instead, that they think that this would be unfair, is absurd and isn’t backed up by anything in the OP.