Right now any boat can race if the owner has the cash. If the boat doesn't fit a class, they'll invent one. That's fine for P class racing. That's run what ya brung stuff and should primarily be run on a divisional level.
What needs to happen is for the sanctioning body to declare what a race boat is with three years of advanced warning. If you want to race on Sunday, pick one of these three classes based on the size of your wallet, experience and balls.
If you want to be a part of "THE REAL SHOW" there is only one class to attend... Supercat.
An hour long TV show would have 5% about F1, 5% about F2 and 90% about Supercat.