The First Officer taking over control is an occurrence which does happen. Most airlines have a set procedure to do this. Usually, manage upwards try to get the Capt to recognise the error and correct for it, if the FO is still not happy with the situation, then a command "YOU MUST GO AROUND", if the Capt doesn't go around, then the FO states "taking over and executes a go-around".
Old Fella, you seem to be saying that it is ok for the FO to just just sit there, knowing that the situation is extremely dangerous and accept the inevitable crash. The above procedure also picks up subtle incapacitation, for example, what if the Capt has a mini stroke on approach and lets the nose drop, airspeed and descent rate increase, the ground starts to rise quickly, we get SINK RATE and GLIDE SLOPE warnings, the FO starts calling out errors, at what stage do you think it is acceptable for the FO to take over ?
Qantas had an incident a while back where on approach to a short runway the Capt was going to touchdown well down the runway, not sure about managing upwards etc, but in the end the FO took over, executed the go-around. Sure its a tricky situation, but better to go-around, hand back to the Capt and fly a better approach next time. Any Capt worth his salt will accept the situation for what it was and get on with the job.
Taking over is not an easy thing to do, you have to be sure of your situation. But this is what the travelling public expects, competent, and assertive FO's and Captains.
By not jailing the FO, the Indonesian authorities have emphasised that they consider the Captain to be totally responsible, and your duties as an FO are limited to advising the Capt. A jail term would have sent a message to FO's that they too are responsible.
As others have said on this forum, that ain't gonna happen in Indonesia. But the travelling public need to be made aware of this. Remember, this crash wasn't an approach that was a bit unstable and the Capt had slight handling problems, this was a grossly unstable approach that should have been abandoned very early on. It was a criminal act to continue such an approach.