Nearly overwhelmingly the ballistic parachutes and recovery parachutes being put on light airplanes are sold to inexperienced pilots, and in most cases, they don't need to be deployed. In the case of Cirrus, who marketed their airplane largely based on the parachute (CAPS) system, many of the deployments have failed, and most of the ones that have been deployed have been pilots who put themselves in increadibly stupid places (thunderstorm over mountains at night in a single engine airplane flown by an inexperienced non-instrument rated private pilot, etc)...pilots who may very well have been led down the prim path by the belief that the parachute was there to save them from their own stupidity.
Parachutes certainly have their place. I've used them many times, own several, and have been strapped to them for several decades. However, in nearly all cases in light airplanes, their use is misplaced, or overemphasised. Personally, if I have an intact airplane around me, I'm certainly more inclined to fly that down than to attempt to deploy a parachute under which a perfectly flyable airplane exists.
In the video linked, I didn't see an uncontrollable airplane or a spinning airplane. I saw an evasive maneuver in which he apparently struck the tow rope, and immediately shut off his engine (for what reason?) and deployed the parachute. Why?