An easy solution by pushing that toga switch at DA would have solved everything, why the Capt never asked for it or took control and done it, we will never know, or will the company.
Have you read the report? It doesn't say whether or not they were visual at the MDA. If they were visual at MDA, then there wasn't any need to do a GA. If they lost sight of the runway at 150 ft, then why did the PF not instantly Go Around? Handing over to the captain at 150 ft AGL is ludicrous. Was the captain expecting to be given the controls at that stage of the approach? There were 8 seconds from when the controls were handed over from the PF to the captain, to when the aircraft impacted the water. If the captain wasn't expecting to be handed the controls, the 'WTF' factor would have taken a few precious seconds off what remained before impact.
It's not why they didn't perform the GA earlier that's in question. It's why the hell did the PF hand over the controls to the captain 8 seconds before impacting the water that's in question, when he should have instinctively gone round.