That is a bad interpretation. Regression toward the mean is a tendency not a immutable law. There are many exceptions to regression toward the mean. Sometimes a 6-7 man and a 6-4 inch woman will have a seven foot child. But more often they will produce a child shorter than either. Sometimes a curve buster like Babe Ruth comes along. But more often, a player will hit a number of home runs closer to the league average.
Regression toward the mean is considered a statistical fact, a fundamental concept in statistics. It is NOT the same as "the law of averages" which is simply conventional wisdom.
Therefore one can reasonably predict that a UConn basketball team going 0-10 from the three point line in the first half will perform better from the arc in the second half due to regression toward the mean.