Kido Pham call from WSOP Circuit - insane?

Date / Time: 2005-11-21 20:08:00
Title: Ricky Zilem Eliminated in 17th Place
Log: Kido Pham raises to $7,000, and Ricky Zilem calls. The flop comes Jh-10d-4h, Pham checks, Zilem bets $20,000, Pham raises to $60,000, Zilem reraises all in for $135,600, and Pham thinks a while before calling with 6h-2h (flush draw). Zilem shows pocket queens (Qc-Qh), and he asks the dealer to keep it honest. The turn card is the 3d, but the Kh on the river completes Pham's heart flush. Ricky Zelim is eliminated in 17th place, and he's visibly upset by the call, saying "That's a lack of respect, man." After he leaves the table, off to give his ESPN exit interview, Jennifer Harman comments, "That was intense."

Doesn't this seem like a crazy gamble to take at this stage of a tourney where only 9 get paid? The two were both top 5 in chips within ~10k of each other. Crazy play from Pham? Discuss.