I haven't seen much of the coverage so far so can't really comment particularly on the 16th but the key to Augusta is always to be below the hole. The target on the green is therefore generally not the hole but a good place to strike the first putt from. So the guys that are getting close to the pin only to see the ball disappear down the slope have missed the target area, simple as that.

The greens on the course I play on are undulating and quick (nothing like as difficult as Augusta of course) and once you know the greens you get an idea where to hit the ball so you're not looking at a three putt. A friend of mine who shoots in the 70s will even hit the ball short of the green on some holes to ensure he has a short uphill chip rather than a downhill putt.