That could be a bigger blow than him just getting killed.(I do imagine NASA getting nutty about the psych tests, tho.
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IMO, you're right, the program wouldn't just end. The issue is the disconnect between public perception & the attitude of the astronauts. The astronauts, all test pilots, will say they should press on regardless. The media, all ignorant weenies,will say it's too dangerous...
I'm not saying it was actually possible for him to just say "f*ck it" and commit space suicide. No way he would. What I'm saying is that the song could be interpreted (barring butterflies preventing its existence) as a reinterpretation of those events in fiction. Something Bowie would deny, since it wasn't. Albeit Gus is three letters and Tom is three letters, so the argument of AH reality music nerds could be he changed it to better fit, and I could see all sorts of links with an AH writer's eye but there isn't a reason to go into them since I'm not writing a timeline.
The likeliest views in a blown-out scenario would be the ones we actually had: something malfunctioned or Grissom screwed up.