I emailed Mark Jackson about this and he had a very thoughtful response (which I think was actually written by him btw):
I want to assure you that this decision was made after thoughtful discussions with the entire team, our administrative staff and myself as well – it wasn’t determined by just a handful of individuals. As is often the case in these situations, multiple factors played a role, many of which Coach Collins addressed in his postgame press conference. A few key considerations included the start date of the new Crown tournament, the current health and depth of our roster, and – something I’m particularly proud of – our student-athletes’ commitment to focusing on their academics and finals. It’s been a uniquely challenging season for this group, and they came to a decision that they believe is best for the program and I’m completely supportive.