Ultimately albacore WILL eat just about anything at one point or another. I've seen an albacore eat an unlit cigarette, and I've seen them come out of the water to eat cedar plugs that were hanging on outriggers completely above the water. However those are awfully rare circumstances.
Why they will eat a dead anchovy at times but ignore a fly is anyone's guess. It's not all that uncommon for them to be that fired up, but also that "selective". Is there a fly/technique that is likely to catch one here and there in those scenarios, of course. However I strongly believe there is no dead drifted, or statically fished pattern that is ever going to be lights out in that scenario either.
IME one is far better off focusing on fishing aggressively with a moving pattern and continuing to look for/focus on those scenarios where the fish are up and feeding rather than spend time and energy focusing on trying to catch a single fish using a technique that is likely to work once in a while at best.
Obviously it has to be some sort of a visual trigger that gets them to gobble a dead anchovy but ignore a fly, and the only thing I can guess is that to their eye the difference must be obvious. Otherwise I'd have to think I'd have caught fish on one of my many failed topwater pattern attempts, or in a scenario where my topwater pattern that has showed success is just sitting, as I've made a lot of effort to that end. I have a hunch that it may be as simple as they can tell the real thing from an imitation in spite of our best efforts. Along those same lines I think that's partly why a moving fly can be effective, as I imagine the movement makes it just a bit more difficult for them to notice the difference between the real thing and an imitation, and I believe movement will at times trigger a quick response of a fish happens to be charging up at the time a fly is nearby. I've just never seen any evidence that fishing anything statically, up to and including dead bait, is anything close to a consistent producer.
At the end of the day I compare it to fishing for staging coho vs fishing for traveling/feeding coho. Yeah, a fly angler can spend countless hours flailing away, trying new techniques, and new patterns, and will sooner or later encounter that odd 17 minute window where those damn fish will bite, but I think searching for and targeting fish that are traveling and feeding is a far more effective use of my time.
I do have the advantage of being out there every day and can spend more time experimenting, but on a single day charter trip it's hard for me to get excited about spending time mucking about trying to catch a single fish when I am comfortable with techniques that can/will catch multiple.
I believe I hooked 4 fish that last stop when the fish were eating the dead chovies, so while it wasn't easy considering how aggressive the fish appeared to be from our perspective, I do believe that fishing aggressively and trying to trigger a strike from one of those fish that was coming up at the right time is a better use of time.
Still, it's all certainly fun to think about, and who doesn't love a good rabbit hole