"What was he thinking?" That's a question you can ask about Nick Young at virtually any given moment. And you'll never come up with the correct answer. (It's insane to think back of the Wizards team that had him, Gilbert Arenas, JaVale McGee, Jarvaris Crittenden ... talk about a lot of lunatics on one roster.)

The winning without Rose might be a stretch. While Jennings has played pretty well, remember that you've then got to replace his (huge) role as the only big-minutes guard off the bench. So what, is Ron Baker ready for that? Obviously that dropoff would be huge. And Holiday, he's awfully old to be considered an up-and-comer. I think he's performing at the level he is because he's a mature pro, but he's topped out. And let's be serious, he's not playing all that well for a top wing off the bench. Roughly 6 ppg on 43% shooting (though a nice 44$ 3pt), nothing else to speak of. A PER of about 11. I think--and I say this as a longtime fan of the middling-or-worse Wolves--that you may be mistaking basic competence with real productivity when it comes to Holiday. I did the same thing for years, whether with Robbie Hummel, Dante Cunningham, or any number of other bottom-of-roster guys forced into rotation roles. It's amazing what a person can talk himself into. (Hell, I championed Darko Milicic.)
You are absolutely right to question Baker and if Rose misses extended time the Knicks don't have the depth to win. Agreed. As for Justin Holiday, to your point, I'm surprised he is this competent. I was in favor of cutting him during the preseason. As you pointed out, it's not like he's playing out-of-his-mind, so I'm hopeful he can continue to do what he's doing.
I'm looking forward to the home and home with the Wolves.