For all this talk about wrong altimeter setting...it's a sea level airport. The pressure differential (between std and actual) is not that high, and the altitude error resulting from a missed (with a D not a T) altimeter setting is way less than the altitude at which they ended up at.
Some other fellow posters have commented about some sort of distraction after breaking out at minima. This seems the explanation that satisfies me the most. Murky weather, breaking out at or near minima, both pilots looking out for the runway, PM forgetting to monitor instruments, altitude vs horizon difficult to assess due to weather plus it being a beach/sea airport certainly doesn't help with the optical illusions.
For the sake of the argument, yes they did what they're supposed to, i.e. go around, but I certainly would like to know how they ended up in such scenario, so we all (or me at least!) can avoid or at least identify such scenario before getting to such little error margins...
Oh and btw, to me at least, the microburst/windshear scenario doesn't quite work with me, given what I've seen both on video and also the metar I saw from one of the articles I've seen regarding this hmm, occurrence.
Regards, your Caribbean/Latin American jet pilot