It falls down on the same flawed assumption (though I think it falls somewhat further!!!), that crashes are foreseen, caused by aircraft faults, and therefore some form of recovery system will save them, that has led to proposals for parachute systems for airliners.
Whilst ballistic parachutes have been successful for ultralights (with a high incidence of in-flight break-up) and less so on light aircraft such as the cirrus (I believe the "Saves" on that aircraft have been a VFR into IMC incident and an in-flight pilot incapacitation) there is simply not anything like the incidence of events where this type of system would help.
The overwhelming majority of airline accidents are caused by human factors, and the first the crew know about it is when they wake up on a cloud to the sound of harp music.