I suspect that the pro rule is drafted for clarity, and ignores reality; the NCAA rule, I think, recognizes reality (and perhaps lag time as well).
Consider: Possession starts at :37 on the game clock. A1 just barely beats the shot clock putting up a high arching 3 point shot -- never timed it, but I'd guess that is in the air for about a second -- if it's an airball, the violation only occurs once it is apparent that the shot missed entirely -- add a second of lag time, and game buzzer goes off.
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