Apparently Jordan Horowitz (the guy holding the correct card in your gif and video) is also lying.
https://www.nytimes.com/2017/02/27/movies/oscars-best-picture-moonlight-academy-awards.html
Jordan Horowitz knew something was wrong the moment he saw people in headsets scurrying across the Oscars stage.
Only a minute earlier Faye Dunaway had said the words that Mr. Horowitz had longed to hear — “La La Land” — as she announced the best picture winner for the 2017 Academy Awards. Mr. Horowitz, a producer on that film, and colleagues and cast members raced to the stage. Mr. Horowitz spoke first — “Thank you to the academy,” he began — but his excitement quickly dissipated, as he recalled the shocking end to the night in an interview with The New York Times after the ceremony.
“I’m holding the envelope and the award, and I had just given my speech, and there are people on the stage with headsets, and I thought, ‘That doesn’t seem right,’” Mr. Horowitz said at the Governors Ball, the official post-Oscars celebration.
“They asked to see my envelope, which I haven’t opened,” he recalled. “Clearly something was wrong. They open my envelope, and it says ‘Emma Stone, “La La Land.”’ So clearly something is not right. The guys in headsets were going around with urgency looking for the other envelope — it just kind of appeared,” he said. “One of the guys opens it, and it says ‘Moonlight,’ and I took it onstage and went to the microphone and said what I said.”
*sigh*
I sincerely apologize to Frink and the other posters and viewers of this thread for the errors that were made during my posts. I had been mistakenly convinced by the video that the category envelope Beatty originally had was the same one that was taken from him and displayed on camera and when discovered, this was unfortunately not immediately corrected. I am currently investigating how this could have happened, and deeply regret that this occurred.