How is it possible?
It seems to me that the PNF was giving instructions to the PF based on indications he had, and PF didn't.
It also seems to me that the PF had his own indications, but was not trusting them, they were too crazy, confusing.
It also seems to me that the Captain was puzzled by what was going on with both side indications.
On the PF's side one thing (or nothing sometimes), on the PNF maybe just the altimeter worked kinda properly.
So it makes sense to me that the PNF did not have all the information necessary to hold the plane (i.e. Attitude Indicator), so he kept telling PF what to do.
On the other hand, PF had other kind of information, which PNF didn't.
Imagine the Captain's situation, he can't believe in his eyes. What he is seeing is not possible.
What is he seeing?
We don't know, many parts of the CVR are missing (to us).
I am not suggesting that a "coverup" is going on, but lets suppose BEA has an "inclination" to suggest that the pilots could have saved the situation. If the conversation between the 3 pilots would show they were confused, why show just part of the conversation?
Why show only the "confused" part?
All three pilots didn't have the slightest idea of what was going on, and is very hard to believe they only lost airspeed and AP.
Maybe when we see the full CVR trancript...