NopeI'll give you navigating to the next post is bad, but navigating to the parent thread would be better than nothing.

If a linked content (like a post) is gone it should not be redirected anywhere as it is gone.
The user intentionally linked to that post, not to a thread; if that post is gone we don't know what the intent of the user would be now.
Though it would be fine to give a 404 and tell the user on that page that a thread still does exist and could be accessed.
If I bookmark a post I am interested in that post, not necessarily in the thread.If you bookmark/post/link to a post within a thread, you certainly would still want to get to the thread rather than a 404 with no clue what thread it was contained in, even though the thread still exists.
If the post ist gone, the bookmark is useless - if I was interested in the thread I would have bookmarked that thread.
So: No, Id prefer a 404 if the post is gone instead of being uselessly redirected to a thread where I can't find the content I was looking for; that would just waste my precious time.