I love how these discussions about a "near miss" always become so judgemental, so quickly. I've been diving a while (44 years) and have a few dives logged (roughly 5386 as of Saturday) and I can tell you, that I have seen many, many divers, who are highly experienced and skilled just about lose it when the excrement hits the oscillator. Just because it hasn't happened to you, doesn't mean it won't.
On Sunday, I pushed some ice pans out of the way and jumped in for a little solo dive in front of my place in Tobermory. Max depth was 53' and the water temperature was a toasty 36°F (2°C). At the 35 minute mark, my primary reg began to freeflow and even though I could have easily ascended without incident, for a brief moment, my heart skipped a couple of beats and and I was pretty sure I was about to die... OK, not really, and I quickly switched regs (I was wearing doubles), shut down my right post and carried on. I turned the gas back on again after a couple of minutes and continued my dive without incident. My guess though, is that a lot of people would have fired to the surface and mass bedlam would have ensued.
Anyway, until something "interesting" happens to you, maybe limit your comments to ones that are helpful. This dude could have drowned, and let's face it, diving is stupid.
Happy Easter, friends. Dive Safely.