The AC 72's do upwards of 40 kts (occasional well upwards.) They'd outrun my RIB with no problem at all. Part of the reason I never headed out to watch them.
It does occur (you don't think the term came into being since cats became common?), but usually in really big swell, which doesn't happen on SF Bay (even the NOAA weather forecast only lists winds for the Bay. No swell report, as it generally doesn't get any.) They're probably talking about a stuff in big chop rather than an actual ass-over-teakettle pitch-pole.
A couple of photos I took today at the race. The AC72's are incredible, but I'm having as much fun watching the RIBs and helicopters wizzing around. Some cool toys.
Off to the marina again tomorrow to watch NZ lift the cup