'oldie' am sure fatigue played a big part in this almost deadly accident. But thinking back over other possible reasons as to why the crew sat there fat dumb & happy whilst the machine slowly accelerated towards the end of the rwy (& I might add actually rotated still with Flex set before TOGA was selected) is that pilots tend to be the best 'spectators' during the events of an accident or pending accident. I believe that we as pilots who undertake multiple T/off's all our lives & 99% are routine almost putting our feet to sleep but when something like this situation happens the old brain still doesn't get triggered to do something about it in a hurry purely 'cause we are not expecting it.
Mankind can make a 100 A340's etc all identical but you will never get 100 pilots the same, there in lies the real challenge! SOP's, training & all the other tools we throw at a pilot to make him/her safe are only as good as the individuals capabilities at the time.
Wmk2