Instead of looking at what boat should be dropped from the Olympics, why not look at it as far as what disciplins should be in the Olympics. May be we need to start with a clean sheet of paper.
Personaly I would like to see
Male Dinghy Female Dinghy
Male Multi Female Multi
Male Sail Board Female Sail Board
Male Keel Boat Female Keel Boat.
Then you can look at either Match Racing, Teams Racing, Long Distance or an Exhibition Class.
Once disiplins are decided, hold an evaluation event to decide classes.