I voted no for a couple reasons:
1 - He didn't gain an advantage from this. He already had position on Kimi and was in the process of making the pass, he went further inside as a reaction to Kimi coming down on him, making for a tighter and more difficult turn for himself, costing him speed, etc.
2 - He was barely off track, and ended up in that position to avoid a potential collision. If Kimi had held the tighter line he suddenly started taking, and thus this had been the wheel to wheel Max was trying to avoid, what would we be saying? If there had been a collision from Kimi coming down on Max, what would we be saying?
3 - This was the most exciting racing moment in a very long time in F1. This was good hard racing for a podium position, so to penalize someone 5 seconds for a minor incident is extreme, especially given that didn't give him an advantage (he lost time, didn't gain)...
Rules are rules are rules, sure... but its not like this is as bad as going 2-3 car lengths too wide on the exit, thus getting a ton of extra speed. This isn't dive bombing someone into a turn, cutting their nose off, and then going a full car length outside to hold onto speed / complete the turn / hold the position.
This is a guy making an insanely good pass that he would have completed regardless of 6 inches left or right, but did what I think we would all like to see - he put his car in a position that would have avoided a collision, and still respected the track limits as much as possible.