Raw Data.
Yes, sad as it is this kind of mistake has been made repeatedly going back many years especially in the DC3 era. The pity is that the lesson has still not been learned. Though from my reading of the report it seems likely that stall rather than VMCA was the final result and certainly turning would not have helped.
Nevertheless, regardless of the alleged experience of the pilot the fact remains that the wrong engine was shut down and control was not maintained. In similar cases where performance has been lacking and control has been maintained the results have been far less severe.
One other factor apart from correct identification, which I previously perhaps too subtly implied is that an engine which may be malfunctioning but delivering usable power should not be hastily shut down at a critical stage of flight.