I agree that was an awful chute pull decision but I have read worse. One I could not get my head around was one Cirrus pilot who pulled the chute for loss of airspeed indication due to an ice blocked pitot system.
The chute is a great development and I think the way ahead as it is almost like the second engine in a light twin.
The Single engine Cirrus Jet is an example where the chute has been added to make up for the lack of two jet engines. That will be a huge attraction for would be buyers and give his /her family and friends an enormous dollop of confidence flying with a single pilot.
Have a failure at night over very low cloud, fog or over water and the chute can save the day.
Even an engine failure over cities or forestation where a forced landing is nearly impossible.
Its a big big selling point when it comes to single engine and other manufacturers should follow the Cirrus example
There are nevertheless down sides in overconfidence where pilots will fly out of their comfort or ability zones
Where pilots will use the chute for silly situations where they should know better
To make up for their lack of skills
Used responsibly by a good pilot where the chute is a backup to his skills and ability rather than a replacement for a lack of ability and skills and it has huge potential for increasing safety
Pace