For those that haven't seen the video, here it is. First part is the day before, the correct flight path. Second part is the incident. Listen closely around 1:53:
A friend of friend flies Hornets. Here is his take: (Name at the end censored for security purposes)
"My sources have been telling me all season he's been having trouble... glad he decided to step down before he hurt anyone. You'll see on the video the same maneuver performed first on Saturday and then again on Sunday. The intent of the diamond loop is to have the entire formation bottom out no lower than 200' (which is pretty darn low to begin with), but the slot (#4) actually got within about 60' of hitting the deck (way too close to call). Of note, the Blues are trained to turn off their smoke if they are having trouble maintaining their position, so you'll see on the first maneuver one of the wings has trouble keeping up but on second maneuver both wings have smoke off. The slot (*** ******... a guy who used to work for me) called the "bail" which led to max performance break turns to avoid catastrophe."
Chaz