Sure it does. Your scenario is extreme. Statistics has already proven that % of winning was nearly identical whether you spike or ran another play.
We can draw up a scenario that running a quick play results in disaster as well.
Bottom line is we didn't execute. Simple as that.
This is a brain dead simple decision - do not waste 1 of 3 valuable downs to stop the clock when there was plenty of time.
We had enough time to run once or may be twice.
If you complete you passes, you move closer and can always spike the ball later or use the TO.
If you have an incomplete, clock stops.
Despite not executing well, we were in a great position to win in the last minute.
Garrett snatched defeat from the jaws of victory.
The most important reason not to fire Garrett is we cannot afford to blow up the system when we are in contention.