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So 'simplistic' is right? Would 'simplified' be incorrect here?

EDIT: A spot of googling shows that 'simple' is generally held to be the correct word in this context. I guess 'simplified' implies they've taken something complicated and made it simpler, whilst 'simple' implies they've not made anything more complicated than it needs to be.

'Simplistic' is perjorative: a simplistic solution is one that's too simple to properly address the problem.

i no think you know what that word means