Armoutthewindow, have you not ever seen the roulettes pull out of a loop at low level heading directly towards and then over the crowd? EVERY airshow they attend my friend.
I know, I've probably been in some of those shows. What I was talking about was the show used to start with a run-in from behind the crowd, then a loop so the formation ended up inverted and pulling back down towards the crowd. Later that was changed to a quarter clover so the pull-down ended up parallel to the crowd, obviously safer. All the toward-crowd stuff is in non-aerobatic flight unless it's changed since my day.
How does someone get away with extreme low level aeros when the order says minimum 500 feet? Because of the 'specifically approved' part.