Sort of a worrying trend on the forum that this is "just good fun".
Yes he may have been within aircraft limits or operating manuals. At my own outfit it would be illegal (clearly turned too low), can't comment on 330 because I don't fly it.
But other questions. Was this properly briefed/trained for/approved? How recent is the pilot in doing this sort of manoeuvre? How recent is your colleague in monitoring (comfortable) it? Not exactly a fresh rested air display pilot having just operated home overnight?
The actual fly by itself, low, right over the top of a pan which anyone familiar with dus Knows is always full of other fueled and loaded aircraft. Suddenly if you get it wrong you've just involved countless other people who had no input on your bit of "fun".
What would have happened with an engine failure? Ok unlikely, but every other part of our operation is built with so many margins and layers of safety, where did you account for this?
Wingtip clearance wasn't that great, would love to know if he had a little heart stopping moment?