I would like to illustrate some aspects of the discussion:
It's always nice to see a RAW histogram as opposed to what the camera manufacturer thinks you should see
Here's one -
Both axes are logarithmic but it's plainly obvious that the image is blown - all three (Foveon) channels are clipped at around a raw value of ~9000. However, notice that the counts (see Y-axis) do not exceed 100 for any level over ~3850 meaning that number of "blown" pixels is actually quite small. Astute readers will suspect that the scene has some specular reflections or something like a back-lit fence with holes in it.
So, was it "over-exposed" or not? Here's the raw image with no conversion - what you are seeing is linear camera space, i.e. what the sensor captured -
Not exactly over-exposed, eh?
To make it more like what we're used to, here it is with 2.2 gamma applied -
Now we can see what the subject is: kitchen work in progress :-) Even though this is still an un-converted composite image from the raw data, I would say at this point that a little more exposure could have been used for the shot - bearing in mind that all the highlights are specular in nature.
And so we come to the converted and processed result, not a bad picture in the end and one for which ETTR (even with some blown raw data) would have worked quite well -