I think it's a two-way street there. If the defense knows the basket won't count if an offensive player calls it, there's cheats and tools on the basketball court who will foul players virtually any time they attempt to shoot in the paint. It's a win-win for the defender: foul every time because it forces the offensive player to either never call any fouls (in case their shot goes in), thus allowing the defender the advantage that comes with fouling or to call the fouls correctly and nullify their potential ability to finish through illegal contact.
The moral of the story is, cheats and tools can make pickup basketball a bummer. However, I do not agree with changing the rules of the game to compensate for the possibility of someone trying to job the system, especially when that system can be jobbed in both directions. For the most part, we police that on our own pretty well. If a guy's making awful calls, we let him know and we don't honor them. But it wouldn't make sense for us to punish everyone else by taking away their three point plays.
Yeah, I was actually going to edit my post and mention that before you brought it up, but I didn't want to be wordy and state the obvious. In my experiences, extreme continuations are a clear no-go for the exact reason you mentioned. If a guy calls a foul at the three point line, play pretty much stops, and he somehow ends up near the basket finishing a relatively uncontested play, that's never going to fly.
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