No, you probably wouldn'a. That option was considered, but there was no assurance that the canopy would release on ejection. The canopy is supposed to be rigged with charges to fracture it, but with balky software confirmed there was no expectation they would function either. The seat also has blades aside the pilot's head to cut through, but that's really getting risky.
Needless to say, ejecting while your canopy remains intact and locked can lead to severe back problems, dizziness, headaches, and instant death.
Also firing the seat would do much more damage to the aircraft. A fully-fueled aircraft, at that. And possibly destroy the record of what caused the problem in the first place. The pilot made the right call, no doubt directed heavily by his support team.