Lol how was that a try, that happens on 50m line it is a knock on, McGuire didn't strip the ball, Wallace had loose carry, knock on any day of the week
The issue is if Wallace's arm came free from the ball before McGuire hit the ball. It clearly didn't, so McGuire has knocked it out.
When one player hangs on to it until the other hits it out it is not a knock on, in any part of the field. It may be called that because it is dodgy possession, but that would be a mistake by the referees according to the rules we have been living under in the NRL for years.
But the bunker doesn't have the excuse, and additionally needed to find sufficient evidence that Wallace dropped it. I think you shouldn't be rewarded for losing possession, but teams always are, unless they play the Broncos apparently.