Charge transport at the Dirac point in bilayer graphene exhibits two dramatically different transport states, insulating and metallic, that occur in apparently otherwise indistinguishable experimental samples. We demonstrate that the existence of these two transport states has its origin in an interplay between evanescent modes, that dominate charge transport near the Dirac point, and disordered configurations of extended defects in the form of partial dislocations. In a large ensemble of bilayer systems with randomly positioned partial dislocations, the distribution of conductivities is found to be strongly peaked at both the insulating and metallic limits. We argue that this distribution form, that occurs only at the Dirac point, lies at the heart of the observation of both metallic and insulating states in bilayer graphene.