That sounds very different from "This story seems like a very exaggerated version of true events". One is about frequency (how often do things in the author's intended reference class occur?) while the other is about severity (how bad are the events that actually happened to the author?)

I found myself wanting to say "I think this sort of grant proposal thing happens maybe 25% of the time, but not all the time, the way the post implies." I also wished there was some kind of gradation for "school insider/outsider". I'm an outsider, but I talk a lot with a friend who teaches full time. I showed this article to her and she said "yes, yes, yes. This is basically how it is." I actually DO still assign substantial probability to this being a hoax, despite it matching my understanding - we know the this is sockpuppet account, created ostensibly for NDA anonymity. But can think of some people here who might have created this explicitly as a test of rationality, who are sort of annoyed that the politics involved here get less scrutiny and want to demonstrate that.