That's not a pilot Ripsnort, that's an observer who was in the ballon that just got shot down (the burning thing in the background).
Observers in balloons were deemed to be very valuable, more so than pilots who were ten a penny. Even with the horrific casualty rates (the life expectancy of an RFC recruit in April 1917 was 3 weeks!

), they had no problems with recruitment. Man for man, the war in the air was as bloody as anything on the ground - which is saying alot considering the British Army had 20,000 men killed in one day during the Somme offensive of 1916.
Parachutes were also said to diminish a man's fighting spirit.
Did you know that WW1 planes were regularrly going above 16 thousand feet, without oxygen in open cockpits, by 1918?

I'd reccommend Derek Robinson's Trilogy of RFC based WW1 books 'War Story', 'Hornet's Sting' and 'Goshawk Squadron' (in chronological order).