My use of the term ballast was a quote from more than one PIC who has flown with him in the past. I have not, so I can't say one way or the other, but those PICs do have that opinion of him, right or wrong.
I do agree that PHI failed the crew, by sending them out together with the experience level they had. If an SIC can't even arm the floats, he shouldn't be an SIC. The checkpilot who passed him was apparently negligent, although likely pressured to do it by the company. I hope there aren't more like him out there, but I wouldn't bet my life on it.