Yes, this was the first thing that came to my mind as well. An excellent movie, especially as Robert Redford is the only actor in the entire movie, and I don't think he speaks more than a few words for the entirety of the film.
One of my "favorite" moments was when he tied the liferaft to the sinking boat and went to sleep in the liferaft. And there were similar facepalm moments from beginning to end. I was so disappointed to see him rescued at the end of the movie. Drowning would've been a fitting, well-deserved ending - he was trying so hard.
Also, I think we have different interpretations of the ending. Redford didn't survive.
As for whether he died at the end or not, it's ambiguous- he's pulled from the water by someone in a boat, and that's it. We don't know if he expires from hypothermia, if he lives, or what- we just know that at the end of a hopeless journey there was hope.
And that's why I said it's an excellent movie.