Some more information: the boat, Low Speed Chase, was I believe a Sydney 38 one design, light, but not ultralight, displacement, open ocean rated. This particular captain had bluewater racing experience, had done the Pacific Cup (SF to Hawaii) at least once, and this boat, with an 8' + fin bulb keel, though not my choice for these conditions, is certainly a capable s/v built for speed in big time open ocean racing (Sydney - Hobart, etc.).
A boat just in front of Low Speed Chase reported large breaking waves on the turn and decided to give the rocks more distance than planned. Who knows what happened at this point, but large breaking waves against a rocky coast have been the nightmare of sailors for all time so let us pause to remember our brothers (and one sister) lost to the peril of the sea.