The Blue flag means nothing more than the Committee boat being on station at the finishing area. Unless specifically mentioned in the SI's it has nothing to do with the finish or finish line. The Finish is the number of laps required to complete the course and the finish line should be accurately described in the SI's (Masts on boats or buoys etc).
I still disagree with Scooby, the shorter the courses the more the advantage for singlehanders. We are quicker out of the blocks, quicker to tack, quicker to gybe. We are slower on the hoists and drops but usually overall quicker downwind. The longer the course gives the two up teams time to really get into the groove with their extra crew wieght/power advantage.