Oh, yeah... the failure was totally on that diver, don't get me wrong. And it's different, because in that case, the high PO2 hadn't affected his ability to respond to an alert, so it's not quite the same situation as someone who is losing consciousness from hypoxia.
But we often do things to mitigate the chance of human error, like call and response checklists. I mean, isn't that the argument for a gag strap? So that your buddy has a chance to save you (94% survival of the 54 cases with LOC in the Gempp paper).
You're a CCR instructor, of course I respect your insight, but I do see the advantage of a buddy light. It's a pretty minimal, unobtrusive thing, and it doesn't add much in terms of cost or complexity. I think that the Ouroboros rebreather has a PO2 readout on the back for a buddy or instructor, but the JJ and the Tiburon HUD cap is very simple.