>Tanking is a form of basketball team management, though.
Not when forfeits, television agreements and gate revenues are involved.
As a game strategy yes, but again, it goes against the concept of fair play.
Yes, tanking in real life does happen sometimes. An example from a different sport: Last year Bruce Arena fielded a joke lineup for the LA Galaxy in a late stage of the US Open Cup. He didn't make a concerted effort to win, because he wanted his best players to be available for the next league game.
That, I and I don't think any fans of the Galaxy would have a major problem with. Some were disappointed, but, at the same time, the Galaxy carries a roster of dozens of players who are reserves and that is the scenario where they get their PT (similar to the scrimmages in this game).
So, even though they didn't make an effort to win the game, they were still developing the team beyond their first team. They also were fielding a full team in both league and reserve (Cup) games.
So, from that point of view, no, tanking is not a real-life strategy. The tanking we are talking about here I am pretty sure is not what some might reasonably consider prioritization of development and resources.