He didn't make 'one mistake'...that would be the case if he 'ooopsed' the turn and then called off the rest of the display while the nerves stopped jangling...but he went on to complete a low level turn right around the field and then at least a couple of less than well considered low passes...one with lots of wing waggling that turned into a dutch roll demo and one that was WAY to Low and WAY too close to everyone/everything.
He was demonstrating himself...not the aeroplane...and from what I saw on that tape his raw flying skills are not up to much...or are his defenders suggesting the dutch rolling and slipping low turn were deliberate?
I think there is plenty of evidence over the decades that the very LAST pilot that should be picked by an airline for a display is the Fleet CP. The main reason why they shouldn't be picked is because, unlike a line pilot, they tend to feel a little invulnerable...who will dress down the boss if he pushes it a bit?
I would be willing to bet there is not a line pilot on the planet who thinks they would get away with that display and keep their job.