The Match Review Panel ruled that Hayes was contesting the ball and had no realistic alternative when the St Kilda star made heavy contact with Geelong opponent Taylor Hunt in Friday night's match.
Brayshaw applauded the decision, but said it put Ziebell's controversial four-game ban last month in an even harsher light.
Ziebell was suspended for a clash with Carlton's Aaron Joseph.
"I like the decision, but I wonder if you wandered down to Aegis Park and stopped the bloke who wears No.7 and said 'you copped a month for contesting the footy and this bloke has no case to answer' - what do you reckon he'd say," Brayshaw said on Triple M radio.
For his part, Ziebell used Twitter to applaud the Hayes decision.
"Great to see Lenny Hayes get off. A ferocious attack on the ball is what the games [sic] about," he said.