Yes, it was beyond stupid on the part of whoever threw the object, but it's not that "cut and dried" that they lost because of it.
According to the PBP, that was Georgia's 10th team foul, so it was 2 shots. The MooSU player missed the first. The object was thrown and the technical assessed. He made that shot. Then he intentionally missed the second shot he was entitled to to start the clock. You can see from the ball's trajectory, he was just trying to hit the rim and not make the basket. We'll never know if he could have made that second foul shot and what would have happened when Georgia in-bounded the ball from a deadball start.