As others have said, no-huddle doesn't necessarily mean you are in hurry-up. No huddle keeps the defense from substituting so you can force them to keep the same personnel on the field and try to exploit a mismatch you may have.
In real life, many teams that want to use a fast pace really simplify their playbook. The idea is to have a small amount of play that all work off of each other, keeping things simple for the offense while stressing the defense.
Here are a couple articles about how OSU is using the no-huddle under Urban Meyer and Tom Herman.
No Huddlin
No Huddlin Cont'
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