Not really the same. Up to the iceberg, the Captain had been doing a good job. Circumstances beyond his control led to the great loss of life, and the sinking of the ship.
The Captain of the Titanic wasn't down in the bilge of the ship drilling holes in the bottom to let the water out.
It is an analogy that people easily understand, unless the ankle biter class deliberately set about to pick it apart, just to confuse the obvious. The country is about to go down, just like the Titanic did, easy to understand.
The simple fact is, your tactic is as old as Genesis; Hath God said........