Autocorrect is the cause of many sins.
If the stabiliser is out of trim, combined with the force effect of reducing thrust, it might easily be possible to run out of elevator authority.
The MAK report makes clear that the approach was flown manually, which suggests AT off as well given Boeing guidance.
Do Flydubai use the AT ARM mode when flying manually?
Fundamentally, without seeing CVR/FDR data we are all speculating. However, as a 738 driver, I am learning things about my aircraft and thinking a lot about my flying technique. This accident is pretty much a daily subject of conversation in the flight deck.