It is definitely not good instruction regardless of the pan or the smoke point of the oil. The oil just needs to be hot enough to show 'legs' like a glass of good red wine. If one waits until there is even a wisp of smoke and the protein is substantially smaller than the pan then the oil around the edges is almost certainly going to burn. Of course, pan size needs to be matched to the job at hand but that isn't always possible in all times and all places.