I disagree with everyone's read here (just like I disagree with most people about Seattle throwing the ball).
At the start of the play there were over 10 seconds left, so the players had clear instructions #1 to avoid a trap (UConn had the possession arrow on their side, so they'd get the ball on any tie-up). #2 was to avoid an early foul because if UConn fouled them with 7 seconds remaining, they'd still have a chance to get the ball and tie up the game if the Duke player only made 1 of 2 free throws.
The other Duke players in the front court were providing outlets which would have ended the game.
Duke's strategy was to pass out of the trap and win the game. This is NOT bad strategy in a case when UConn has the possession arrow.
Now, the poor part of the play on Duke's part is the player panicking and losing his fundamentals. He needed to turn and face to see if he could dribble out or pass over the top. If he knew he had no way to do that after following the fundamental skill he was taught, only then should he have held the ball.
Overall I think Duke's strategy was sound and it was only a moment of panic from a young player (leaving his feet to throw a pass over defenders) that botched what they were trying to do.
