The problem with the kickout is that you already took too much time off the clock, so wether you make it or not you'd still be in the same boat if you'd taken it to the hole, hoping to steal the inbounds pass. The only difference is that you have less time on the clock.
9.8 seconds left, a three would've been good... but with 3 seconds left, down by 4? There's no real hope there, he should've made the layup earlier instead of wasting more time and the play for the steal. If you foul, then at least you might still have some time to run another play... and who knows, they might miss a free-throw.