If you look at a lot of the around the world racing boats (e.g. Around Alone, etc) they have exactly the same trend ("almost Wedge shaped"). There is a definite sailing performance enhancement to that. Not necessarily a "better" more comfortable ride though...that is where the details are important in the design.
BTW, I agree with you when it comes to the aesthetics of some boats, but you can still get very nice designs that are being built today, but the original designs were probably in the 80''s. My boat for instance (''99 build) has the original underbody and design from the 80''s, but has been enhanced "slightly" over the years to have a slightly wider stern. But not so much so , that it looks like a wedge of pie.