I disagree. It looks like the curved edge of the "chip" is down and toward the strap so the strap follows the gentle curve of the chip rather than its sharp corner. The old 1985 Nacra manual says, "Be sure the curved edge of the black chip is down so that the strap takes the same curve as the black chip." There is a round edge on both ends so you have to look closely. I think he has it right.

However, I doubt that this caused the hull to fail. The cool thing about fiberglass is that if you think large you can cut open the hull, lay down significant glass and resin, put in a new backing plate for the bolts, and then do a good gel coat repair. It will be as good or better than new. You just have to think major and not think just skin repair. It's not hard work, you just have to be committed to the bigger fix and be willing to get out the chain saw for that first cut. After that it's play dough and paint. Don't abandon the boat over this.