Yeah, there's a notion in basketball sometimes that it's worse to try your hardest and be unable to stop a guy - even on just one play - than to roll over and get out of his way. This isn't so much true in the NBA, but dunks like that are one area where you'll see guys do it.
At the same time, Jordan made an incredible play and there's nothing wrong with celebrating that. It's the focus on Knight and the "lesson" to not get embarrassed that's the messed up part.
It's not like, say, Olajuwon running circles around David Robinson, where there are implications for a broader rivalry and each player's place in history. Then I understand it a little bit. This is just mocking a guy for trying to make a very tough play and failing.