Has been discussed on Redit and I tend to agree with them. Since the collective in this fast deceleration is way down (I assume, here), you can not get into VRS. I think he run out of power to stop the descend.
Anyway, perfect example, why we should fly into the crash and stay straight and level, if possible. An by far not enough time to process all what is going on, to decide on the right method. Classic method saves the day more often than not.