No, not at all. I find it amusing that the same divers who hold the opinion that 'diving should be looked at as it really is, no rose-colored glasses, an inherently dangerous activity that must be deeply respected and undertaken with an abundance of safety, caution, training, and preparation' are also sometimes the same divers who eschew the reality of the training agency model vs the ideal of not letting novices out into the wild until they are a well-trained master of diving. I say this as someone who would prefer this ideal, but understands this is not the reality of the sport.
The reality is that novices are trained just enough to get them started in the assumption that these new divers will remain within the protective embrace of the professional training agency they began with. To be a part of this system professionally means accepting this premise, the working paradigm that means accepting responsibility for the safety of your captive agency-trained divers. I do not think this is the greatest idea in the world, but I cannot deny its effectiveness. Many casual divers go safely into and out of the underwater world with their preparation and dive planning effectively outsourced to the agency and its professionals. It is a bargain the agency accepts for a continuing stream of income and the casual diver accepts for its convenience.
Discussion of the responsibility the guide in question held towards his charges must be viewed through this paradigm, not through the diving ideal you or myself may prefer. This is not an indictment of any approach, but rather a reminder that attributing deaths as an inevitable result of the training agency paradigm is an entirely different topic and discussion.
I consider this guide and his dive shop to be strongly culpable in this diver's death. He failed his responsibility to prepare, he failed to gas plan, took control of his charge's ascents and sent one of them to the bottom, and then he abandoned his charge to die. He and his charges both willing entered the situation, but his was the position of responsibility. At a minimum he should never have such responsibility for divers again.
And yes, the diver who died fell victim to panic. The argument that he was also a victim of the diver training agency paradigm is not unreasonable but that is an entirely different can of worms.