I really dislike the current rule as it leaves too much room for interpretation.
Who is to say how much room is enough?

These guys bore off on a boat known for stalling. The lead boat appeared to over stand the mark so it appeared there would have been room for a tack and then GE would have had rights for buoy room and could have easily avoided a collision as the boat can tack that fast, where they just stalled the rudders in the bear off. At the least they should bear responsibility for not avoiding the collision – it was not very avoidable they way they went about it, but that was not the fault of the other boat.