my smal feeling is that the PF wrongly intrusted in one of the lost protections (AoA) and thought it will be ok to hold the stick back, it might be that he had learnd this (wrongly-) skill......
It might and would be awful to contemplate if so... there must be others.
The corollary if true, is that even with protections, it must surely be acknowledged as still the wrong thing to do.. what is wrong with S&L or a slight easing of ND.
Is there likelihood of pilot(s) having a great fear of Mach buffet and overspeed do you think, indeed a greater fear? But long term holding of stick back, does surely, must, come from some sort of conditioned training or ingrained understanding of the safest thing to do... as well as indicating a rather 'fact learning' approach to flying rather than a raw law comprehension of basics.
.. and of course, this conjecture only applies if the evidence persists in concluding that there is no other explanation for this phantastic phugoid phlight than a very unfortunate and hasty response to an a/p disconnect at night in some turbulence.