You're right, that you need about 40 Knots for the fin to work.
But with the collective down, the turn rate wouldn't increase further at a high rate and you're in a "controlled" way down, having a slight chance with a flare at the bottom, or arresting the sinkrate with increasing turnrate close to the water, having a less violent crash.
Guessing from the containers on board of the ship, 150 to 200 feet isn't really much height to play with - but still worth a try.
In you don't react fast enough centrifugal forces won't let you do anything
On a typeratingcourse, with just full pedal pushed, I had the opportunity, to see, what effect the right and fast reaction can have against a slow reaction.
Did that from 500 feet with fly away, still having plenty of height left - but you're right, I knew what was coming.
Having a confidental video from a fellow pilot, who needed a total of 500 feet for the recovery to straight and level - pedal still pushed - but going through the video, less than 200 feet were needed to stop the turn and there would have been a chance for a more controlled crash.
SeaKing - or other conventional tail rotors- probably no chance at all from that heights...

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Tail Rotor Pitch Control Loss During Hoisting - Aerossurance

Interesting that the operator thought the simulator training was too expensive so didn't do it.

Standard simulator exercises are TR malfunctions as we all know.

The pilot is reported by the co-pilot to say 'What is happening to the aircraft' as it begins to yaw rapidly - perhaps someone with recent sim training would have reacted much quicker.

Sadly he paid the ultimate price - RIP.