Exactly. No tactical application at all, but a learning experience to teach that all is not lost when the A/S goes to zero(of course, no one was ever hamfisted enough to let the speed fall off while looking outside at the opponent) with the nose vertical. The typical recovery is a few "falling leaf" type swings through the vertical nose down as airspeed builds to allow control.
As others have mentioned, low speed knife fights in a phone booth are likely to end with someone else shooting into the phone booth.