Actually he could be flying. Since I worked on the ejection seats of the F14A/B/D, the F16 should be a simliar Martin Baker ejection seat.

Ejection seats if activated will launch at 30 Gs, so by the time you pull the handle and start your decent is roughly 2.5 seconds. Most pilots black out and wake up as they are decending.

Also due to the high Gs, your spinal cord compresses 2-3 inches. So one ejection will shorten the pilot 2 to 3 inches. but over time you'll gain half to 2/3 of your height back, but still remain a bit shorter.

3 ejections and you aren't allow to fly anymore.