Many races run bi-annually and I don't think it is any detriment to the organization or momentum of the event. Pac Cup and Trans Pac run alternating years. The Van Isle 360 runs every other year, and is hugely popular and has sold out almost every year. And the Newport Bermuda race and Annapolis Bermuda race run alternating years (maybe different now than when I raced it) but there is also the Bermuda 1-2 which I believe runs Bi-annually.
The Tybee seems like a really cool event that could gather a lot of exposure. A year off is no big deal, with the right promotion during the year off if could come back bigger than ever. Definitely need a supportive title sponsor, which is probably the hardest thing to find (it was for the Van Isle).
Anyway, just my take on it from the other side of the country.