Yes, there was a risk by going for it, but understand the risk and reward of a situation is part of coaching.
Exactly. I gave you two scenarios above, one in which NW made the decision and one in which Nebraska had the same decision, but obviously as the second team. In the first I say it's a bad decision, but in the second I say there's a solid argument that it's a good decision. The reward in the second example is simply much greater than the first. In the second example Nebraska can win the game right there, but in the first example NW can't.
The risks are also not equal, even if in both cases failure means a sizable chance at losing the game. In the first example, if NW kicked a FG and then Nebraska responded with a FG then it goes to another OT where NW is the favorite because of second team advantage. In the second example, though, obviously Nebraska is tying to go into another OT where they are now the underdog due to first team disadvantage.
By going for the TD, Fitz is forcing NU's offense to score a TD.
But here's the thing...if NW kicks a FG, Nebraska is
already trying for a TD to win it. They are not kicking an early down FG to tie it because there is no advantage. The only condition that's changed,
and hence the only reward, is Nebraska is forced to go for it
if and only if they have a 4th down on that drive.
That is the difference in these two cases, where we presume the odds of making that 1/2 yard vs a chip shot FG are roughly the same for both teams. In the first case your reward is forcing a 4th down that may never even occur and in the second case you simply win the game. Big difference, IMO.