In poker? Yes it is.
Casino game? Stupidity at its peak.
No one should go all in on a casino game like fed-up with something and decided to spend their entire balance (decent to big amount) then it's not going to change the fate of us and we are decreasing our chances of winning with all in because mathematically you got more chances to win if you bet more times so be sensible and don't bet in a rush.
You are right, in poker it is a reckless move and can cause panic in some players, for that reason only the player knows in this case why he goes all in, I have done it and wow the adrenaline goes up to very high levels, in the casino I agree with you, it is something that is like suicide, it is putting luck to the test and for me that is not good, I would not do something like that with my money, even if I were very angry, it is like saying goodbye to money.