I didn't like it from a practicality standpoint.
First, he's holding the ball in one hand, "like a loaf of bread" as the old saying goes, and it could have slipped out, particularly since he's waving the ball back and forth in one hand in front of his knees as he's running. His knee could have knocked the ball out.
Secondly, because of his antics, he's drifting toward the sideline as he's looking at the defender. If he's just a bit more careless, he could've stepped over the sideline.
Lastly, and most importantly, his taunting allowed the defender to catch up to him (so much so that Tate had to put on an extra burst of speed at the end just to get to the endzone), which allowed the defender to shove him, and Tate ended up rolling into the barrier behind the back of the endzone, which could have cause a needless leg injury.
I don't care about the penalty as much as the items I list above.