Chances are the liferaft deployed under the boat, when it first got wet.
Those guys never should have left port, there were small craft warning out, winds were 20, gusting to 30 knots, seas 4-6 ft.
I fishing in a tournament over the weekend and the offshore division was canceled because of the high winds.
Great weather for a sailboat? The fact it capsized due to whatever problems during gale force winds and one man died seems to contradict your logic.