But it shouldn't. So you have to start punishing it, nobody wants to see this kind of cheating and adults screaming for 5 minutes when the wind blows too strong on their legs
If you try to punish something too integral it'll be backfire.
Also, it's really hard for Refs to gauge how the players should react to tackles, it varies from one to another. Doing exaggerated reaction is fine as long there's fault. Key point is the reaction should be visible and clear so that Ref can make decision. I'd you don't react visibly then you might miss free kick or penalty as the Ref won't care
So far Yellow for doing exaggerated diving for no fault is good enough imo.