... to imagine a scenario in which the observable events would make any kind of sense. I can't. I suspect Jon put his finger on it with the speculation that "Whatever, I'd bet that those people simply WANTED OFF THAT DAMN BOAT ASAP." That is another condition in which heaving to helps tremendously. It makes everyone aboard, including the decision-maker, feel that something has been done. It addresses the sentiment--often vocalized at high volume--of "I want to get off, DO SOMETHING."
Unfortunately many people believe too much of what they read or hear. The myth that fin keel boats can't heave to has deep roots. Perhaps the skipper didn't think heaving to was an option.
In this case it appears based on what little we do know to be tragedy led to by more than one poor decision. To the extent that the decisions were made under stress I infer that the stress was self-generated.
Nonetheless, my sympathy to the friends and family of the lost crew and to the survivors who now must live with the ramifications of the choices they made.