DISCLAIMER: I hate all forms of showboating and taunting. It doesn't belong in the game, IMO.
However, some things are worse than others. I think when an opponent drops a catchable pass and Booboo starts clapping and waving his arms, many assume he is taking credit for the play's failure. I think this is more of a taunting type of thing where he is calling attention to the player's dropped pass. It doesn't really make sense that he would be congratulating himself on a play where he clearly got beat and his receiver has stone hands.
Again, neither are desirable and both possibilities are annoying. But, I'd much prefer a guy trying to get into the opposition's head a little over trying to take credit for a play where he didn't do well.