You can't really compare the two strategies unless you can an alternate universe. Also have to realize that you have 4 other players to develop on the court. Does having a player who might not be ready to play hurt the other player's development?
This isn't some theory Locke just made up. There are clearly people who feel the same way (Jerry Sloan) about not playing young guys too much. I agree with it, to an extent.
If Exum gets 25 mpg this year, is that "throwing him to the wolves"? It's all relative, but that could still be considered bringing him along slowly, depending on your perspective.
Personally, I feel like "throwing to the wolves" or not having much regard for the player's age, would be starting Exum and playing him 35 mpg. I doubt we would do that, and I think that would possibly hurt his growth, and would hurt the other player's development on the team.