Good morning!
I would say: «If you have the guts to get yourself in this kind of situation, you should also have the guts to die like a man.»
But seriously: In an emergency, every measure that might improve your situation should be considered. But flying a GPS based direct-to course to the airport coordinates while descending to 50 ft above aerodrome level is not going to work in 99 percent of cases. Firstly, the coordinates stored in most GPS units are those of the aerodrome reference point and not those of the runway threshold(s). Second, obstacle clearence off centerline does not even come close to the kind of minimum that you have in mind.
The only chance to survive this kind of situation is to establish yourself on the extended runway centreline (based on the co-ordinates of the runway threshold!!!) early and follow a glide path that will keep you above all obstacles. A so-called "self made non precision approach". The cemeteries are full of pilots and their passengers who messed-up on this kind of approach, even with much better weather than yours. So better don't try it unless it's your only option.
Greetings, Max