That the speed just decays until protections (hopefully) kicks in seems like a recipe for disaster.
Protections don't hopefully kick in on the bus, they do if you're in normal law and they don't otherwise.
That said, in alternate law (what AF447 had) the aircraft will start shouting STALL when you get to vs1g, and the auto trim ceases to function which essentially gives you a speed stable aircraft again.
But I guess it's more fun to bash the "scarebus" than to try and understand it's logic.