You are correct that the study shows max. recruitment occurs at 50% of the max. carrying capacity. But the graph also shows that max. recruitment occurs at around 43 DPSM. Nothing was taken out of context and it is a well established and accepted principle that the MSY carrying capacity is 50-60% of the max. carrying capacity.

If you have the link to the report on the Audubon Conference , the graph is explained there in simpiler terms.