That's completly true.
Also, I think the only time something can be challenged in basketball is who touched the ball last, or if somebody stepped out of bounds.
One question: In football, you can only challenge the call after the play is done and before the next play starts. It works because their is about 30-40 seconds of non action. But in basketball, how would they challenge it, if the play is continuing on.
Because, they cant have the play stop so somebody on the team can check the replay.
I dont think it should be in the league, because as Myth say's it will slow the game down considerably.
Also, unlike football, one bad call doesnt really change the game too much.
My suggestion would be too have the replay allowed only in the last two minutes of the game.