What, you don't think he'll survive it? It will turn out to have been a graze, or something. After all, Princess has died... what, three, four times now?
I get that we're supposed to believe he's dead, but that's the problem here: we're supposed to think that. Kind of like we are supposed to think that the Princess is dead, just like we were the previous two times. And there's already serious debate about whether she got a fatal shot (my bet is no). They've pulled this card so many times already, it's not particularly credible- even with the blood from the headshot. Aside from my skepticism of killing a character, it wouldn't be the first time they played fast and loose with the animation either- remember the camera drones that magically appeared in episode 3 after being absent in episode 2?
This is why my reaction to the episode is a big sigh, rather than suspense. I can see it playing out either way- and that's the problem. Considering the time already invested in the three main characters (who have between them gotten about 85% of the screen time and character development), I have a hard time seeing them actually ditching two of them. Especially the Princess, since without her the Earth has no Aldnoah tech and no real diplomatic card to mix things up.
Of course, they could just kill one of them, in which case Inaho is the most likely. I'd find that disappointing, because besides not having a good replacement in for him (cue the accusations of over-powered), he's actually been a surprisingly refreshing (and subtly fleshed out) character. He's a rare character with a personality that's actually subdued, rather than non-existent, and even without any romance subtext his relationship with the Princess was one of the primary characterization devices of the series so far. The only thing comparable to Inaho's relationships on the ship with the Terrans has been Slaine's trauma-of-the-week with the Martians.
Of course, it could all be legit and they may have thrown away a majority of what little development the series has right now. In which case my opinion of the series will go down a fair bit, and there won't be much to keep my interest. They'll have to build characterization from ground zero unless they radically expand the ability of the supporting cast, and they'll likely struggle with that as well.
My gut says Princess is alive and Inaho dead, but I'll hold out a string of hope.