‘I can’t see the runway’ is an important cue, but may not have to be a trigger to go-around if the airport environment is in sight.
The whole basis of "modern thinking" is to keep matters simple, stick to minima and SOPs, if, at minima they did not have the required visual ref to continue to land they should have executed a missed approach. They continued to descend below minima for a further 20 secs before the PIC took control and then at 20 feet attempted a go-around.. we know from LV practice that at 20 feet with flap 40 there is a high chance of touch down, of course not if over water! how can we attempt to analyse the "crew thinking" at the time? the tower could see the A/C as could one waiting departure, it would appear the flight crew were somehow completely disoriented and confused and clearly the CRM aspect, or lack of, plays a large part in this. One could understand a " cultural issue" if the PIC was PF and a less assertive FO, but this was not the case and the PIC did not, as PM make the required command decisions at the time. Yes we can learn, but can they?