1. misleading the American public into going to a series of costly wars through lies about WMDs -> not punishable
2. Weakening Glass-Stegal and encouraging questionable and irresponsible risk-taking at major banking institutions -> not punishable
3. Fraudulent evaluation of risk-ratings by trusted agencies for the sake of profit leading to worst financial disaster since great depression -> not punishable, actually, rewarded with billions in bail-out by tax payers
4. setting up and running a website to host underground drug trade with bitcoins -> punishable by life-sentence
Not that what Ulbricht did was right or that he shouldn't be punished... but his biggest problem was that his business didn't generate enough profit at the expense of the public. Justice might be blind, but even she can still smell money.