Basically, you are saying that, if your BR is so small that the 5% "rule" forces you to play baby stakes, it is justifiable to relax somewhat. BR management comes into play once you have a sufficient BR to be worth managing.
That makes perfect sense, JD.
Application of rules and management systems are more easily defined if the goals of the player are established - first. If poker is stricly recreational for the player, neither one probably makes much difference.
Playing at the 5% guidelines, what does 'reload' mean to the player? If a max bet is a statistically favored hand and loses, a player with 25% of his $50 roll on the table only has 4 reloads. Or maybe he'll just make another deposit, and then percents really don't matter.
online poker players run the full spectrum from dead broke bad players to dead broke excellent players (maybe due to family or work related financial situations, etc) and from financially secure bad players to excellent, profitable players.
I understand what you and JD are saying, but here's my thought from a different perspective - my own situation.
I'm retired, but have avail funds that I like to use on live table play. When I started playing online 2 years ago, I decided I would not make any cash deposits, and have not to date. I maintain a +ROI live, so why mess with it. Online is mostly recreational for me, but with an objective, not unlike the Ferguson Challenge. No deposits at stake, I cannot really 'lose' anything. Taking micro stakes seriously (with winnings from FR's) I can actually turn nothing into something.
I take my .04/.08 online stakes just as seriously as I do my live 2/4 and 3/6 play. Maybe some cannot. But to me, managing my BR online at any level is just as important as managing my live game BR. I just won't use one to fund the other.
Can I 'relax' at 04/08? Not really. It's the level my BR will permit me to play and survive variance. If I loosen up because it's 'only 8 cents more', and lose my roll, I'm back to the FR's and off the cash tables.
From my view, bankroll management is a good thing for ANY bankroll, big or small. I can recall the days when I could not join chat or rail in a game because my roll wasn't big enough for a buy-in. BRM of my small online rolls keeps even that from ever happening again ...