I can imagine an emergency that doesn't require stupidity. Entanglement in, say, PowerPro* offshore just before ascent from a deco dive causing a larger obligation and depleting back gas quickly, for example. Or entanglement in wires inside a wreck prolonging one's dive with the same effective result.
It is an interesting thought experiment (to me) to think about stretching the gas supply by using a wing as a counterlung for *n* breaths before exhaling into the water and getting a fresh breath of gas in that sort of circumstance. I'd certainly try it if I thought I had to, but I've been very careful and pretty lucky (I got tangled in the PowerPro at the *beginning* of the dive). It's also interesting to think about whether one would be better off doing that than by blowing off the deepest stop or two to make the first deco gas breathable. If it's a reasonable strategy, the optimum value of *n* would be very interesting.
* PowerPro is an offshore fishing line. It's an extremely strong aramid fiber, and drapes much more than regular monofilament, but it is fortunately easy to cut. Unfortunately, it's about exactly the color of a wreck that's been in the water for a long time, making it very hard to see, and there tends to be quite a lot of it if there is any at all because it's nearly completely limp and gets entangled in debris easily. Once you're caught in it, rolling over to see what you're caught on just entangles you more. Lovely stuff. If you fish with it.