I can see a coach using this tactic in a situation where the other team is making a run and has all the momentum. Fouling for a 1 and 1 or even double bonus can disrupt the rhythm of a team that believes they are capable of continuing their run.

That said, it would be very interesting to see a statistical analysis of this situation versus not fouling at all. I see this strategy as something to be used similarly to the foul to give -- low game time left, etc. I bet the Sloan Conference might have something to say about this.