I think the analogy of a Formula One car is spot on. Very few people will ever get the chance or even have the skill to pilot something with so much performance and that is pretty much how these Cup boats should be viewed. The spectacle of it all is enough to attract people to the sport of sailing who may have never thought about it before and for that reason, I think it has value.
Hogsnort mentioned the 49’ers earlier and I would pay to view coverage of that spectacle as well.
Either way, no one can say that any of these people involved in this level of the sport are not the top of the food chain and the flat out best in the world. I will be interested to see how the nationality rules affect the future challenges of the cup. I suspect that New Zealand will continue to dominate though. They have asserted themselves as the sailing capital of the world.