Yeah, that's how I see it as well.
It was a high risk strategy, which seems to fit Whaley's style, as evidenced by the EJ and Sammy picks. Apparently, he's going to live by the sword, die by the sword at this stage of his GM career.
It's a narrow path to follow, but as an ex-player I suspect the all-in, "stick your neck out or go home" philosophy is a fundamental part of his psyche. Refreshing after years of risk adverse thinking here...but maybe no more effective. Time will tell.