Anyone who tells it like it is ,isn't going to be liked. I wouldn't call them a joke over that fact.Do you think Ted Turner was a joke? Why should it matter whether they are "well respected in the upper echelon of the sailing community". If they've got the desire and the money, let 'em sail.
Personally I think an SA challenge is exactly what the AC needs,to make it interesting. The protocol is the joke.
You might also note that I didn't call anyone a "joke". I said "not well respected". Who's trying to pick a fight here? Are you sore over that mirror comment?