i wouldn't say "wrong", ... there are a couple of scenarios. 2 that come to mind at the moment
1. hood pilot is legal PIC & is sole manipulator of controls - Safety pilot only gets to log SIC
2. hood pilot is flying, but not legal PIC - he gets to log PIC because he is the "sole manipulator of the controls" - safety pilot is legal PIC, but is not doing anything - he gets to log PIC too