Do you think this theory has some weight?
I think it does, but it would be fair to also consider a possible alternative explanation, given at a website intended for people who are feeling suicidal: [Suicide] happens when pain exceeds resources for coping with pain. (emphasis mine)
I happen to think that reasons for desiring to commit suicide probably differ between different individuals, and thus each of these theses have some explanatory power.
I sometimes have thoughts of suicide. That does not mean I would ever come within a mile of committing the act of suicide. But my brain does simulate it; though I do try to always reduce such thoughts.
But what I have noticed is that 'suicide' is triggered in my mind whenever I think of some embarrassing event, real or imagined. Or an event in which I'm obviously a low-status actor. This leads me to think that suicide might be a high-status move, in the sense that its goal is to recover status after some event which caused a big drop in status. Consider the following instances when suicide is often considered: