Problem with the crash+burn racing (and damage) is that people spend ages tuning their boats before the ollies; so who is going to finance the extra costs (IOC trying to reduce costs) of the sailors bring (maybe) 5 boats and 10 masts with them...(and having to spend the extra time ensuring that all 5 boats are set up exactly the same).
I don't like the idea of "crash & burn" as a boat owner. The right boats mixed with windward/return short course racing can provide excellent material and still be done in a (relatively) safe way. Modern spi launching/retrieving systems only help in this respect as the boats aren't spending 1/2 the leg putting up/dropping sails.
The idea of close to shore racing to cut costs for coverage is also a good one however I think we will alway struggle as the best coverage of sailing I have seen has always had shots from a helicopter.
Michael
