1) they weren't racing at the time, so the RRS do not apply.
2) I'm pretty sure MF counts as the "encumbered vessel" according to the COLREGS
Reportedly they were in open water and I'm not sure that lack of maneuverability technically make it the "encumbered vessel" since they weren't running in a depth restricted area. It's probably more of a time and opportunity thing (but potentially the same thing). Reports are that the 40' boat tacked onto starboard shortly before the photo...must not have known they were there (somehow?)...the 40' tried to run after the incident. It took the MF 10 minutes to start to run it down (changing course) and the Coasties finally intervened and made them drop their sails to sort everything out.