I didn't see the program but from what I read back when it happened I believe,

1: They waited way too long to reef after having observed some imminent heavy weather
2: Safety plans and safety equipment at-the-ready didn't seem to be a priority.
3. They were very lucky that a nearby highly skilled ship captain could manage his behemoth in shallow water and could remain on station until a rescue could be managed. Those Great Lakes merchant mariners must be some of the best.