Yeah it doesn't really translate like that. Let's use some examples for a wave sail (e.g. 60 kg of down force required) and a camber sail (e.g. 120 kg).
wave sail - 2 pulleys: requires 20 kg of down force, something that most people can easily do
wave sail - 3 pulleys: requires 15 kg of down force, only 5 kg less (8.3% of 60 kg)
There's not much benefit in having that extra pulley, especially when considering the extra rope length which means you'll have to pull two times when extension is over 20 cm.
camber sail - 2 pulleys: requires 40 kg of down force, pretty hard work
camber sail - 3 pulleys: requires 30 kg of down force, still a lot but most people would be able to do or use a tool to assist. The benefits of a third pulley becomes relevant when forces increase.
I think everyone who still believes there's a benefit in a third pulley for a wave sail, find me or someone with a modern sail on the beach and you can try it :D I'm sure you'd agree that the difference in pull force is negligible and as mentioned earlier, you mind find it feels more smooth due to less pulleys.
If you haven't tried, well you can't know.