Not the way I'd have handled it, but then I wasn't there and hadn't put up with weeks of poor performance, disappointment, and hardship. Everybody has a breaking point, but they had to see that coming and to snap on stage smacks of the same lack of professionalism. I'm not sure an apology fixes that, regardless of the delivery. It would have been a simple matter to just ask the audience if there was a drummer in the house, yank the alky, and put a volunteer on stage. Even if the volunteer wasn't Neil Peart, somebody could probably have done a better job and the band as a whole wouldn't have looked so juvenile and irresponsible.
But, that's just armchair quarterbacking with 20-20 hindsight, so it's easy to say.