With today IT possibility, I feel confident it is possible to develop cooperative project via Internet to achieve the best trade-off between cost and performance.
I'm currently doing my second Internet based Catamaran design/class project; first the F16 class and now the F12 youth cat.
These IT based initiatives come with their own share of problems and obstacles. You can well compare them to any town meetings were each and any local is attending. It is very difficult to maintain focus and mould something constructive from a very chaotic environment. But having said that, it can be done. The proof is in the fact that it has been done already with regard to another class.
Wouter
Wouter Hijink Formula 16 NED 243 (one-off; homebuild) The Netherlands