Agreed.
The odd thing is that these multihulls suddenly make it seem that sailing is exciting when it wasn't before.
The old J-class still remain and quite a few replicas have been built this century so it is still possible to see them sail. In any kind of wind it is an unforgettable sight to witness their graceful speed and power.
However, the real duels took place between the giant cutters of the late Victorian and Edwardian eras when the fanatical German Kaiser determined to beat his uncle the future Edward VII. Those were a war of nerves when the leviathans were taken to within inches of collision and beyond. The slightest error could literally prove fatal e.g. Spithead regatta 1895.
Ben Ainslie maintains one tradition as during that era, British racing crews were regarded as the best, picked as they were from the fishermen of the S. and East coasts but by comparison with the old giants, modern craft are like butterflies.
Hmm... There are parallels with any sport surely. The headline racers will edge ahead with whatever design improvements they can. All part of the sport. Bit like hankering after the good old days of normal car racing before all this Formula 1 malarkey.