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Ejecting is very risky for the pilot. Many pilots are seriously injured in the process (1 in 3 chance of spinal injury https://www.smh.com.au/education/how-dangerous-is-it-to-ejec...). Ejection is the option of last resort; I'm guessing the pilot felt that he wasn't quite that desperate yet.

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Operators of vehicles like boats or airplanes are much more likely to try and save the vehicle with all means necessary. This is probably due to a number of reasons but there is a somewhat increased attachment.

Car people love their cars yes, but boat people and pilots treat their vehicle like a child. No idea why.

Nope. Israel in the 80s was not a wealthy country and didn't have jets to spare. He guessed the correct motivation.

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