I'm a big fan of pitch counts and being smart with pitchers, etc.
But here's how I look at this particular situation. Here's a senior and (probably) a 22 year old man. If he wants to risk his arm health to win it all, I think that is his prerogative. He's old enough to decide whether to risk his health in this situation, and I'm sure no coach forced him out there. To build up to this one outing at the probable end of his career and lay it all on the line is probably not a particularly high risk situation. Obviously throwing all those pitches is the highest risk that this arm will ever face, but it isn't as if this weekend makes devastating arm injury a certainty.
The key is to make sure that kind of use is only in those once or twice in a lifetime type of situations, and not a pattern over time.