I think it’s because he believes in the no-reserve model. He doesn’t think the peg failure was the fault of the model, so of course no apology would be needed on its behalf. In his opinion, the peg failed because it was “allowed” to slip to $0.95.
I could be wrong, but that’s my assessment based on recent conversations.
I do wonder if he thinks the buybacks were a mistake. It seems that most shareholders now believe this, but I haven’t seen @JordanLee express that opinion.