Jerry,
While I agree, in general, with your technical conclusions, I disagree with your subjective conclusions.

The "fun" in racing is beating the other sailors in a fair race, (or so I have been told).
The true "skill" in racing is being able to make a given boat perform up to its maximum around a course.
There is no moral victory if you are on an over-powered, over-complicated boat and barely survive the race and get beat(handicap) by a well sailed H-16.

History has shown that most people don't like complicated boats.
The market is causing the complicated boats to become simpler; one-line spin launch and snuff, self-tacking jibs.

If you want to know what the rock stars like to race, it is all over the web.
Look how many F18, A Class, etc. champions are also H-16 Champions.

The skill is in pulling the lines just right and pointing the boat in the right direction and it is just as critical on all cats.