sinking ship and its captain

“People admire ships that go down with all the flags flying, and the captain on the deck,” I read it somewhere today.
What is first thought that comes to mind when you read this line? Let me share what some of my friends answered when I asked them about it.

Many of them recalled scene from Titanic. Of course, ship and sinking make it very obvious. One recalled Amitabh from Kaala Paththar. I have not seen that movie, but again that one is more close to sinking and captain. They are going by the literal meaning.

One guy recalled many things: Robinson Crusoe, Master and Commander - the movie, Life of pie – the book, "Oh captain, my captain" by Walt Whitman, The perfect storm - the movie and book. Very interesting indeed. I don’t know about most of these movies or books, so for now I cannot understand his view.

What I thought was totally different from all others. I recalled scene from Sarkar. Where Rasheed is killed. Shankar comes on the boat, gets him all tied with chains; a big stone attached to the chain, and finally the stone is pushed off the boat. Rasheed all this while is seeing in Shankar’s eyes. There is no sign of remorse on his face. He still has all his dignity and pride in his control. He accepts his defeat and just vanishes.

I compared it with Rasheed, the man who has lost everything still he is up there with his head high. We all will vanish one day; only the way we die will be different. Nobody will bother about us after we die. But if we can die with a satisfaction of living a meaningful life and can be proud of our actions, our death can be glorious too. We might be right or wrong in our actions, but we should be truthful to ourselves.

Somehow this is the first and last meaning that came to my mind after reading this line.

Am I reading between the lines?
Or just that I am thinking too much?