I'm the guy who previously posted that I was on the beach when the accident happened.
Your tagline of "We're going to need a bigger boat' is exactly what I thought when I used to boat in the same area a few years ago.
I sold my 32' Baja with 454 's after having it only 2 years. Perhaps someone on this board bought it. Boat's name was "Tag-a-long".
At any rate, the ocean off of Sea Isle City is always rough. Townsend's inlet is also tough, with shoals that stretch far offshore.
My theory is that perhaps the brothers saw the breaking waves and tried to turn before it was too late, but were going too fast and caught a chine or hit a roller sideways. Which fits in well with the observation on the beach that the boat barrel-rolled.
My 32' Baja just wasn't enjoyable in those waters. And you absolutely had to know those waters (with the far reaching shoals) in order to have a safe day.
The two adjacent inlets, Corson's and Hereford inlet, were even worse (barely navigable at low tide)!