Don't know if this happens in any other companies, but if we have any spare time in the sim after our OPC/LPC/whatever they want to call it this time, we quite often have a little tool around. Whether it be a race around the rock of Gibralter (take off, circuit to land and stop asap), low level through some open hangers or down a Swiss valley at sim speed x4.
It's all good fun and done in the spirit of "improving advanced handling techniques".
Can't say I've used what I've learnt from these 'exercises' yet, and I hope not to, but it does show you some of the capabilities and limits of the aircrafts manoeuvrability.
I'm sure this fly-by/low go around effort was within the realms of safety in terms of the aircrafts envelope; but I'm still not sure whether this guy took the best option, so to speak.
If he wanted to impress, then throw a party to celebrate the end of the contract, don't risk your mortgage