Would they have hit the other aircraft? No idea. But the report indicated that the pilot’s recovery actions were influenced by his concern about traffic 1000’ below.
A few years ago we were subjected to a simulator exercise involving a stall recovery at low level during a turning RNP-AR approach. Rolling wings level in that scenario would have taken the aircraft towards terrain. The point of the exercise was that a “one-size-fits-all” stall recovery manoeuvre is not always the most appropriate course of action.
I’m not defending this crew’s actions, I’m just disappointed by the level of criticism by fellow colleagues.