'Jaba' I have to agree with you here pretty much on this one with what you wrote.
Going below any min is justifiable when under emerg conditions so all bets are off by this stage. Not declaring an Emerg means I believe one of two things he either was more concerned of the ramifications if he did declare an Emerg due paperwork retribution etc (which is plausible) or he simply believed that he was going to get in & say nothing chalking it up latter to sh!t I'll never do that again !, one way humans tend to learn.
There would have to have been some commercial pressure on this guy as apart from total ignorance nobody would intentionally put themselves or others in harms way by going skinny on the gas.
I personally will be very keen to see/read the outcome of this one as it's somewhat close to my heart ( done Pacific Aer-Med B4) as it can be very challenging out there over the Pacific with limited options flying wise.
They where damned lucky that is was a Westy jet as you couldn't pick a better small jet airframe to land on water if you tried. Mid wing, eng's out of the way & even with the gear down (likely to be the case here) a water landing would be doable due to bugger all of the wheel protrudes blw the fuse.
Wmk2