That may be true by itself but there are some eyewitness reports that actually conclude that the pilot acted in ways that greatly reduced the number of casualties. Don't be too quick to judge, it could have simply been a mechanical failure. At speeds and altitudes like that it does not take much.

You could also look at his FAA records and see that his being 74 likely had nothing to do with it:

http://www.av8rdan.com/2011/09/before-assuming-age-was-the-c...

edit: The course doesn't fly right over spectators, the plane went off course, possibly as part of what is suspected to be mechanical failure.

That was my first thought. I believe he was only 74 though. Probably approaching the realm of spectacularly stupid. They said his medical records were all checked out, but I bet there's a higher level of scrutiny for older pilots going forward.