I think going down with the ship may have less to do with honor in this case, but with the realization that he made such a serious mistake that his career (and

I think going down with the ship may have less to do with honor in this case, but with the realization that he made such a serious mistake that his career (and likely freedom) was over and suicide became an attractive option. He killed five of his men, and sank the ship because he wanted to save then net and catch. I suspect whichever authorities had jurisdiction over him would frown upon that.