Not dribbling?

[bard]

4-15-4Note3: It is not a dribble when a player stands still and holds the ball and touches it to the floor once or more than once."

So the player can, while holding the ball, touch it to the floor, without dribbling. I saw a kid, in a pick-up game, set the ball on the floor and take his hands off of it as part of a really pathetic shot fake. He then picked the ball back up and dribbled. Violation?

We're not likely to see this in a real game, but...