Stupidity: John Candy was being dragged by the speedboat because he was holding the bar when the boat took off. It simply never occurred to him that letting go off the bar would have solved the problem (Of course then you wouldn't have had the speedboat scene at all but it's still pretty dumb).
Suggested correction: Characters doing stupid things doesn't constitute a stupidity entry. That was part of the joke, that Chet spent all the time telling his son to remember to let go of the rope if something goes wrong, but then forgets his own advice in the heat of the moment. People do stupid things in real life all the time.
Well how does this not count as a Stupidity then? You just said it was and there was no need for him to stay holding onto the rope.
Stupidity is basically a minor plot hole, something small that doesn't rise to the level of an plot hole entry. Characters are still allowed to do stupid things though if it's not a plot hole (otherwise everything Lloyd and Harry do in all the Dumb and Dumber movies would be stupidity entries).