Some boats do, but I doubt the internet critics of all marine accidents - do.

Sounds like they took a cautious approach to the gusty conditions, were safely reefed. Conditions were moderate with winds in the 20's, varying from none to gusty. There wasn't anybody on deck at the time of the incident(if I have it right) but I presume they were keeping a constant lookout through an expanse of glass and gizmos on screens.

Capsize is so final on a multi hull. There's no recoverable knockdown (that monohulls usually survive). There's a few moments in the capsize that something might be corrected, in sufficient time to correct sails or wheel.

Is there or has there ever been an air bag like safety device, that would fire from an inclinometer at a set angle, that would make sheet winches free wheel?

Seems a safety device could be easily designed and fitted on the bigger,expensive cruising multi's that have a lot to lose in a capsize.