Seems to me that this is another one of those "intent and purpose" situations. If we can accept that the rules intend there are only two ways for a player in control to advance the basketball (dribble it or pass it), then I agree this should be a violation. Problem is, this doesn't fit the definition of a player in control either, since he is neither holding nor dribbling a live ball inbounds.
I'm calling this a violation, and if I'm put to the test, I'm going to cite Rule 2-3.
Very interesting situation.
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