re: Not as cool as a clipper ship...
There is no mast, so the heeling force is all transmitted through the sheet (tether). The lever arm does not extend from the axis of rotation halfway up the mast, but from the deck to the height above deck of the sail, and the vector is not at right angles to the deck. The force vector component available to heel the ship is greatly reduced. (Check out the English language version of the website your link links to). It should work.
But you still can't sail to windward.