The FAA FAR's contain several classifications of airspace and categories of airplanes. There are also exemptions for vehicles that fly but are not airplanes. For example Part 103 covers "ultralights" which is what I currently fly. They are restricted to only some classifications of airspace. UAV's (drones) also have a special section which I think is Part 108.
For the most part manned aircraft don't operate below 400' except for take off and landing, that is why UAV's are restricted above that height with some exceptions, like the military and certain commercial applications. Some airplanes do operate at and below 400 on a routine basis such as aerial applicators and high line patrols.
UAV's weren't part of this story and they didn't mention what caused the engine failure which led to the forced landing.
An emergency in an aircraft pretty much overrides all the regulations when needed to have a safe or safest possible conclusion.

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