You see a cord attached to the top of the kingpost that leads to a drag chute, fully open.
Had the same idea in the early 80s when I started experimenting with drag chutes. I didn't have the nerve to start with an attachment directly to the top of the kingpost. I tried one attached to a pulley on a line from the top of the kingpost to the keel. The chute I was using was too small and the bridle too long. I tried it a few times at Dilllon Beach with no discernible effect and I had no way to release it, so I ditched it. I increased the size a couple of times and started attaching it to the harness. It would be fun to try again.