So many variables. Perhaps in a bit more chop the moth would have an advantage, but in ocean swell they'd surely be a nightmare, while kites and windsurfers handle it easily.
As for racing against 60 foot multi-million dollar multihulls, I'm guessing that in light winds kites would get smashed. The efficiency of massive sails and long waterlines is ridiculous.
What is clear though is that unlike a lot of sailing craft, a kite on a raceboard, sailed by a skilled sailor, can go pretty well in all water conditions so long as there's 10 knots or so. Plenty of the super-fast sailing boats are quite restricted in the conditions where they can access their top speeds and VMG.
Still, when you look at the cost, transportability, versatility and durability of kite gear compared to any other craft, we're miles ahead.
I thought it was worth dragging this clip across from the parallel thread. If you can tolerate the nauseating soundtrack, and accept that kite-racing gear has evolved considerably in the few years since it was shot, it gives some idea of the ridiculous scale and performance of the really big fast boats. To be even close to these guys on gear that costs a few grand and fits in your car boot is amazing, but to beat them will take a revolution in kite design. You can't afford the drag of a boofy un-faired leading edge, or of wasted wingtip surface area if you want to play the efficiency game at the top level: