The tall Ship industry around the world is gunna be given one big shak-up after this. I doubt the old "they look lovely we need to keep them no matter what" will be ditched and unless the ship and crew are worthy they will be immovable meuseum pieces.
To the exception of Germany and US most countries with a maritime tradition has only one or two true tall ships that in a way or another are state funded and are in good condition. There are are also several countries, including Britain, Portugal or Sweden that have several other wooden tall ships on display I would not as dock attractions but as museums and not in sail condition.
Almost all of the Tall ships are today steel ships justly because it is a lot more expensive to maintain a wooden ship than a steel one.
I don't believe this will have any influence regarding European ships. As I have said not only mostly of the ships are state funded as the European legislation in what regards private owned boats and inspection is a lot more tight than the American one, being Europe a nanny state and all that jazz.
I believe the repercussions will be mostly over US Tall ships and in the end if reasonable measures were taken it will not affect negatively the Industry.
If the Bounty was classified as a boat restricted to sail in Coastal waters with winds in not excess of 5B (a fair weather limited boat) and had mandatory CG demanding inspections (not as a dock attraction) nothing of this would have happened.
Nothing is as damaging to the tall ship Industry as the series of accidents that have been happening on the last years with Tall ships.