Should this be a PSA 4?
 

I don't want to out this auction, and this is not meant as a PSA bashing thread. But I saw this very nice card front then checked out the back almost as an afterthought, and saw this!? I hope they give my cards a PSA 4 with this much paper loss. Don't they usually drop a card to a PSA 2 when there is paper loss?

Yes, it should be a PSA 4. PSA is very lax on paper loss. Now, if you'd asked if it should be an SGC 4 then I would have said no.

There have been many threads/pics where PSA has given cards with paper loss 3, 4, 5 or even a 6.

Psa 2
 

Should be a PSA 2.......missed it somehow.