Using a design rule allows development in the state of boat design and I like that. The 12 meter rule allowed that and even the IACC boats were good development platforms. I don't have anything against multihulls or racing to a rule rather than a single design but the way the AC has been handled for the last few years is a disgrace and an ugly scar on the sport of sailing.
When I think back about the race in NZ and in years before and all the fanfare, weeks and weeks of good solid racing, lots of competition (even though one sided at times) it was a great spectacle. Sure it was ostentatious and mostly a show of big money but it was still a great sporting event on the level of the Stanley Cup playoffs or even the Olympics. This America's Cup has been a fiasco from the beginning.