This option makes no sense to be on without a parent. It's already grayed out in the UI, but still toggle-able.
This fixes an issue where the head of the bone can become invisible, when use_connect=True and parent=NULL.
You could argue the root of that problem is a missing check in the drawing code, but I would disagree. The drawing code basically assumes that if a bone doesn't have a parent, then use_connect is always false. This assumtion is totally reasonable, and with this patch, it's correct.