Depends who the coach is. If it's the new guy, there's a big upside to taking any post season bid.
Won't be the new guy. If they're hiring any coach worth a damn he'll be busy coaching in the NCAA.
Letting this team play a few more games could be a good thing. Almost the entire core minus ML, most likely, will be back next season. You give the team a chance to finish on an up note by hopefully winning a couple games.