My take is that certain parties dug a hole into which Mr Ibbotson fell, for a variety of possible reasons (over-confidence, over-enthusiasm or even much-needed financial incentive). Whilst it could be argued, quite reasonably, that those certain parties are culpable for digging said hole, it was only Mr Ibbotson who flew into it.
A sad story, with many lessons to be hopefully highlighted by AAIB in due course.