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Picture this scenario: K punts striaght up or very short. R, believing he is beyond the neutral zone, signals and makes a fair catch actually behind the neutral zone. All players of K stop because they assume he is in or beyond the neutral zone and made a fair catch. R, believing the same thing, walks over and hands the ball to the nearest official. If the ball is still alive at that point according to your interpretation the covering official would have to not take the ball and let it fall to the ground still a live ball which you would have to rule a fumble. Doubtful anyone would notice no wistle was blown. What a mess.
If someone gives a fair catch signal, it is either valid according to the definition of a valid fair catch signal. Invalid is everything else. It HAS to be valid or invalid. It can't be a nothing. So back to the fundmental statement that the ball is dead following a valid or invalid signal.
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