What do you mean by "wrong"?

I reckon the actual color doesn't matter as long as it's blue-ish. There are no branding guidelines or anything. Even the size of the circle is unspecified, which IMO is a feature, not a bug. It's accessible :)

EDIT: I'm incorrect, there is a spec. Whelp! I still like my imagined more-flexible version of the flag.

It is the 16-color VGA version of blue, not the version of blue you'd pick if you had a 24-bit color display.

This website reminds me of the early 90s internet because of the specific shade of blue they picked.