Cirrus aircraft are expensive even by the stratospheric standards of general aviation, which leads to a “no seatbelts, we die like real men” attitude from your average GA pilot with a 60-year-old Cessna that flies backwards in a stiff breeze.
That said, the RV-10 is a (relatively) inexpensive kit plane, and one that has a couple parachute systems available for it. In the case of a kit plane, I think it’s not unreasonable to say that adding the parachute system is a good idea… the incident rate with such aircraft is much higher than with other general aviation aircraft, and the cost of adding the chute isn’t eye-popping compared to the other costs involved.
The Cirrus CAPS system works as low as 400 ft if the plane is still in level flight, but if it’s not got forward motion – say, in a spin or stall scenario – it needs more altitude to fully inflate. I’d guess that in this case, if they’d had a BRS system it probably would have had time to work, if only just, but they’d have needed to deploy it pretty early on in their emergency.