Stumbled on the idea of applying Special Effects | EqualizeHSV through a mask of the sky. The bottom image is the result - amazing recovery of clouds. I have no idea how equalization works here.

Not perfect. Could not mask the really blown blue at the top left and on the water, and part of the sky still looks blown.
A related use of Equalize: Sometimes the equalized image shows ugly exaggeration of light and dark. Good! If you Composite | Subtractive filter the equalized over the original image and adjust the amount, you often get a pleasingly smoothed image. Again, I have no idea how this works.