Wigan Athletic boss cites biggest disappointment - more than winning goal - from defeat at Blackpool
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In truth, it could have been all over much earlier, with only a superhuman display by new England Under-21 call-up Sam Tickle standing between Latics and a hiding.
And Maloney preferred to look at the bigger picture, rather than focus on the last-gasp hammer-blow.
"That's football," said the Latics boss. "We've had a couple of those fall the other way, and these things can happen.
"The goal at the end, however tough it is to take - for the supporters and the players - it was the first half I was far more disappointed with.
"Again, we've come here and conceded early....last time it was three minutes, this time it was four or five.
"We just can't do that and waste the first half, and then expect to win the game.
"What I saw from the team in the last 20 minutes was everything I wanted from my team.
"But we have to learn very quickly that we can't waste a full half of football before starting to play.
"I thought each of the substitutes had an impact, but it wasn't enough on the day."
For the second time in five months, a sell-out away contingent saw their side trailing to the home side's first attack.
And it had to be Rhodes - so often the scourge of Latics - who marked his home debut with the opener inside four minutes.
Goalkeeper Tickle then denied his ex-Latics Academy colleague Jensen Weir - on loan at Blackpool from Brighton - with a decent save.
He did even better moments later when a free-kick from another former Latics man, Callum Connolly, took a wicked deflection off Rhodes, with Tickle adjusting in mid-air to make a stunning claim.
Wigan threatened just before the break when a Tom Pearce free-kick was headed back in by Matt Smith, only for Kell Watts to nod it just over the top.
But Blackpool finished the half on top, with Tickle again denying Weir from distance.
Latics started the second half much brighter, with Charlie Wyke sending Callum Lang clean through.
Dan Grimshaw saved Lang's initial shot and, after the ball was played back in, Stephen Humphrys rifled home - only toi turn and see the flag up for offside.
James Balagizi and Jonny Smith took over from Sean Clare and Callum McManaman, but still Blackpool looked the more likely to add another.
And Tickle made a quite miraculous double save to again thwart Rhodes, who thought he was nodding home from a yard after the goalkeeper's initial parry, only to see a hand come from out of nowhere to flick the ball off the line.
The flag was up in any case, but it wasn't moments later when Jake Beesley this time found Tickle too good to beat.
After Rhodes this time fired wide, Tickle saved well from CJ Hamilton, before Latics threw on Magennis for Matt Smith in a final roll of the dice.
The skipper was immediately into the game, seeing a header from Pearce's cross tipped over by Grimshaw.
But he wasn't to be denied, and another header with two minutes to go looked like it had rescued a point for Latics.
However, there was to be one final sting in the tale, with Dougall netting a 94th-minute winner to the delight of the home fans behind the goal.
Indeed, it was almost 3-1 in the final seconds, only for Pearce to somehow get back on the ball to head clear after Rhodes had fired goalwards.