Okay, maybe they were showboating when they tried to enter the harbor (?) with the kite up, and got a big puff/squall.
That said, they let the sheet and guy go, rounded up ("controlled" broach) without dipping the end of the boom in the water, and probably recovered, or we would've seen yet more video.
Spinnakers are like common stock, as opposed to blue-chip--big reward, but big risk too. More interesting for us spectators, innit?