whitelist of allowed ips

Not exactly.

If source is whitelisted, Accept (avoid being locked out myself)

So all IP’s are allowed to begin with, but some (“my” IP’s like at home, my office etc) are on a whitelist ahead of everything else. They can’t become blacklisted to avoid myself becoming locked out. Then it’s the drop all on the blacklisted, followed by portscan detection. Only after that the ‘normal’ rules (allow https, smtp etc) begin.