...a faulty sensor input leading to the aircraft believing it is going too slowly...
Such an event would surely require the 'Unreliable Air Speed' procedure, rather than a deliberate selection of Alt Law.
The situation which raises greater concern is faulty AoA signalling, resulting in spurious pitch excursions. Under such circumstances it
might be better to inhibit AoA protection by deliberate crew action, before the aircraft reaches an extreme attitude.