Very tragic. I have never used in boom or in mast reefing, having relied on slab reefing in a similar sized boat, but a ketch, with far less sail area in the main. Also if you think about reefing or there is any question; then reef sooner than later.
Things can go badly very rapidly--in this case only a few minutes between two very critical injuries, due to loss of control. Bringing the boat into the wind in 25' seas is not at all easy, and will present a very unstable platform.
Once you are xx miles at sea--it is all on those on the boat. There is no easy shore rescue. In this case, the CG was able to establish a refueling point for the helicopter. That is a unique situation which only happened because the large cutter was close enough to the helicopter route.