That kind of makes sense, but I thought 70-80% of braking is done by the front brakes, so if you have a rear blow out then it's not going to cause a huge change in direction if you do brake and leaving it in gear and using engine breaking shouldn't have any effect on the rear wheels (assuming FWD).
Obviously just standing on the brakes I would expect to cause more of an issue. I understand the point somewhat, but I also wouldn't expect that coasting to a stop from 70-80mph is particularly safe either as you will cover a large distance in that time, during which the condition of the tyre could deteriorate even more, and if you did need to stop quickly using the brakes, then what you mentioned in your post could happen.
I don't have any experience in dealing with a blowout, but I would expect if I had (before seeing this thread) then I would go for the brakes, gently at first and applying more pressure gradually so I could ease off if it did start to veer to one side, although it seems that wouldn't be the best course of action.