Adam, I have no doubt he was, but on the Biz Jet thread, regarding the Citation 750, which crashed in Germany, lots of talk regarding owner attitude/ego.
Not saying it would be the case in this incident, but if you watch the video, the base leg is low, the speed looks quite fast, the turn is steep, everything is going wrong, and I understand that distraction appears to have played a big part in this incident, but surely, all aspects of flight can have distraction. If the approach had been stable, with a longer final, which is what he would have been used to, say at his home base, then the distractions could have been managed. Distractions are an everyday part of flying, and are 'managed; as part of the process.
This would appear to have been a classic case of bringing a biz jet in to land, in an air display manner. Now it would have looked great if the whole thing had ended in a landing, but he nearly killed himself and a passenger, totalled a beautiful aeroplane, and could have resulted in ground based casualties. Sad, and as you say, a sober reminder that it can and could happen to us all.