OK, lets see how this one comes out:

Two boats (“A” and “B”) are heading downwind and converging on opposite tacks. The wind is blowing 15 to 18 knots so both boats are moving fast. “B”, on port, safely passes in front of “A” and jibes to starboard and is now leeward of “A”. During the jibe, “A” passes “B”, but “B” quickly gets up to speed and gains an overlap. Both boats are now three or four boat lengths from the finish and are passing the left-hand leeward gate (leaving it to port) which is almost directly upwind from the committee boat. “A” is footing off and almost dead downwind and screaming for room, while “B” is heading up trying to get to the finish and not hit the committee boat. “B” passes “A” without making contact and finishes without hitting the committee boat; and to “B”’s surprise, “A” rounds the left gate and heads out for another leg of the race and starts yelling for “B” to do circles, but “B” has already crossed the finish line

Some qualifiers:
It’s not clear when “B” obtained an overlap after jibing, but definitely well before reaching the leeward mark. At 15 knots, 40 feet gets covered in a hurry and it’s hard to tell if it was outside the two-boat-length circle, but “A” insists that the overlap came after the two-boat-length circle.

“A” started 10 minutes ahead of the “B” and was sailed by one of the fleet’s top-ranked sailors, and most all other boats in his class had already finished. “B” hailed “A” and asked his intentions but was not given an answer. “A” did not hail for room to round the mark until both boats were alongside it.

Why did “B” wait so long to jibe and head for the finish? He was covering his closest competitor who also waited to jibe.

Why was the gate so close to the committee boat? It was very windy all day with gusts well over 25 knots and the mark probably drifted.

There are loads of rules in play here: room for “A” to round a mark, room for “B” to pass a continuing obstruction, leeward boat, etc. The sailors met on the beach and talked it over, but came to no conclusion. There was no protest, but there might have been if it was a bigger event and it would be nice to know Who was in the right here.