No, it's the other way around. I certainly think we can all agree that $500 is, if anything, a high limit. The question is, if we have a situation in which we're not supposed to receive a gift at all, but we're not required to declare it unless it hits this larger amount. The basis on which you accept or reject is the motivation of some third party that gave it to you, not your own potential passing of some objective standard.
On May 5th, 2015. See this statement in context.