He puts two hands on the ball and holds it high up on his chest while running as the defenders are about to chase him down. That is real time situational awareness. The play took 8 or 9 seconds, so this wasn't the proverbial split second decision.
Do I think he could have outrun the defenders? No, but he could have gotten more yards if he left the ball exposed. Do I believe he thought he could outrun the defense? Yes. The important part is he took care of the ball. I also believe he took care of the ball because he knew vaguely time was running down and he got the ball well within field goal range.
Reminded me of Jamal Williams watching defenders chase him down from behind on the jumbrotron so he knew when to convert the ball up.