This is a good breakdown. "The only thing FIFA got wrong is not immediately suspending the red card after the match."
Balogun did not initiate contact. And when VAR was used, slow motion should have only been used on the point of contact, which came earlier from the B&H player.
League decision on Babcock
“The League has completed its review of Mike Babcock’s tenure in Columbus, and of certain alleged conduct associated therewith. Our investigation has concluded that, even in a light least favorable to Mr. Babcock, there is no current basis to restrict his employment in the League.”