This is more interesting as social phenomenon than as a sports clip. At least that's what I'm telling myself.
[Edit: as of 2025, this youtube video is no longer available]
J.R. Smith is taking a lot of (deserved) criticism for walking out of bounds with the ball as if the shot had gone in, but what's really remarkable is how almost everyone acts just like the shot had been made1 until the referee blows the whistle. It's like those cartoons where the coyote acknowledges gravity.
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I suppose an alternative theory is that people thought the ball had gone out of bounds, which is not uncommon for shots that miss the rim from that range. ↩