If it's a suspected controller/aircraft communication issue, definitely cycle the power and try again. But switching the controller off and leaving it off guarantees that there's a communication issue.
The situation in the incident discussed here seems to be unrecoverable. I'd certainly try cycling the power, though it wouldn't have helped in this case. Following that, I think I'd be considering how to put the drone on the ground without creating a hazard to people and property.
Reading about it has made me even more careful about checking the compass function before launching. Yesterday, I noticed that the drone was pointed north and the compass display showed it pointing nearly east. It was on a concrete slab, presumably with rebar below the surface. I moved it two feet and the compass behaved correctly.