I consider an aircraft not being able fly a go around due to low fuel to be an UNACCEPTABLE occurance.
You are perfectly right.
Unless he has already declared MAYDAY, the Commander is supposed to have at least final res. fuel upon landing (30' flight time at 1500ft), thus being able to do at least one go around.
If he fails to do so, he not only deserves a MOR, but disciplinary action and retraining, even if he is a 744 captain.
LEM