This is a good assessment.

The clock isn't low enough to justify running it into a defense that is loaded up to stop the run, even if you have Henry running it.

The move is to have the qb make a quick throw that ideally will give a reciever open room to make someone miss, and maybe even a big gain. Short of that, to surprise the defense and pick up a first down so you can keep milking the clock.

Dobbs should have thrown sooner or just run it himself, or throw it away if necessary.