I get the logic but I disagree with and detest the approach. I don't believe in playing scared or conservative until later in the game. At the 5 minute mark? Ok. But before that when your offense is moving the ball at will, keep going.
How many leads are we going to lose this year before we recognize that games and momentum can shift quickly? A 16 point lead is still only two possessions. Your analysis above doesn't allow for huge mistakes on defense or special teams, which is exactly what happened.
Nah, if you have a dominant offensive unit, Step On Their Throat!