My understanding of the situation is that your assessment is fairly accurate. The worst part in this from my view is that I believe most of us would have done the same thing as the homeowner with the same result and most of us would have done the same as the officer. No winners here and nobody with clean hands either. The homeowner, officer, even dispatch all share some responsibility and none to my knowledge did anything that they would reasonably do differently if in that situation again.
This is why post incident analysis and ongoing training are so important. We can all learn from these situations.