"On many dinghies they just use stainless pop rivets, and even they have enough sheer strength to handle the loads"
I don't get why rivets are seen as inferior to drill and tap.
I just bought 2750lb shear high-strength stainless steel 1/4" rivets from McMasterCarr.
That means my new whisker pole ring, with 4 rivets, is held on to the tune of 11,000 lbs. You could just about lift the boat by it, if the standing rigging holds on.
The vang on my 31ft boat is held to the boom by 4 of them, and to the mast by 6 of them. Again, you could lift the boat with it.