It seems like the ship’s crew thought it was time to freeze in place and let everyone drown. Those life rafts are designed to pop out with the pull of a line. They should self-deploy if the boat sinks very rapidly, such as when in a collision with a large vessel. Also, there should be inflatable life vests for all the passengers, should they enter the water; so they can float while paddling towards the life raft.
They do --at least the ones on navy ships. There's a water pressure sensor that releases the raft. I'm sure all modern inflatable lifeboats feature this simple technology.
But as someone who spends a lot of time on ships (I'm currently posting this reply from one) simply getting to the life rafts can be a life-or-death struggle. It's very easy to drown below decks, unable to escape the panicked masses.