Hi Kris
I think you summed it up pretty well.
I would take issue with this statement.

I would change it to "SCHRS or Texel formulas to compute performance BASED on measured parameters."

I think the historians would note that the Formula part of the name was driven by the notion that the rules allowed you to use a crew weight formula and come up with a different sail plan to match your team's size.

The Nacra F17 class used the same argument to match two spinakers to sailors of different weights.

I don't think it was quite as marketing driven as you conclude. Now a days... the Formula part is indeed just marketing the brand... eg Kleenex... for tissue paper. The small sail plan appears to be not truly competitive with the large sails.