this seems more like a battle of technology that actual sailing skills. Everyone should have the same boat thus making it a battle of skill and not of ultra light composite material
There are a lot of high level sailing races the AC is just the only one that receives any coverage for the masses.The teams are fairly evenly matched in general. For the most part it comes down to the start and on course tactics, who makes the most mistakes. The boats themselves, with few exceptions over the years have also been evenly matched. There is only so much a naval architect can do in regards to aerodynamics and fluid dynamics given the parameters set forth before any boats are built. There are high level races where each team competes using identical boats. Unless one is really into sailboat racing they would probably be akin to watching railroad tracks rust. IMNSHO The most badass of all sailboat races is the singlehanded around the world races, The Vendee Globe is a non stop, no assistance race around the world no crew, just one person.
the Velux 5 oceans race has stops in ports where repairs can be made again, no crew, just one person doing everything and trying to catch some sleep occasionally throughout each day.