Its absolutely fair because after the fact there is nothing more than could happen to decide the outcome. The last shot is the last shot. You are letting perfect be the enemy of good. Its not a perfect solution and it doesn't aim to be, it only ensures that the final shot in a close game is fair for both teams.
Your point here is entirely irrelevant because the league already scrutinizes certain calls in the game via official review inside 2 minutes. This is just expanding on that. The league has already confirmed that calls in the final 2 minutes are important enough to review in certain situations. The last shot should be one of those. It protects the integrity of the game.