If you look at the Nani replay in a vacuum you can make all sorts of arguments for and against the card, but in the context of the game and how it was being refereed for 55 minutes there's no way it's a red card.
Also, on this whole dangerous play angle; if dangerous play is a certain red card, why are overhead kicks allowed? Why are keepers allowed to rush off their line and punch anyone in a different coloured jersey in the head with impunity? Why are players allowed to jump up and contest headed balls? I mean they could clash heads and that's very dangerous.