Engines fail for a variety of reasons, but engine failures on takeoff seem to be more related to fuel starvation than anything else. I flew over the ball of smoke and flame from a guy who didn't have fuel in the tanks when he took off this last year out of PAMR. Luckily the guy in this cardinal was smart enough to lower the nose. If it was his own damn fault, which is what this sounds like (he raises the nose, the fuel runs off of the pickup in the tank, the engine quits, he frantically lowers the nose and switches tanks, the fuel runs back over the pickup the engine starts again, off he goes.), then no problem in getting out and flying again after he figures out what happened.
Moral of the story, make sure you're on the right tank, and don't be so quick to judge. Everybody has bad days in the airplane, preferably those bad days don't happen to cause failures, or happen on the same day as a critical failure, but everybody does have spooky things happen. Wait until you get another couple hours before you say, "MAN! I'D NEVER DO THAT!" As your perspective changes as time goes on, I know mine keeps changing. The pilot I was a year ago is nothing like the one I am now, and the same will be true a year from now.