Ok thanks Microbe. Top plan to set everything right.
That strap installed is on the right track but it is very poorly executed as you allude to. It should be under tension and taking the cap and diag shroud load down to something solid but it is doing neither sorry to say. Why it is bent like that can be guesstimated but let's go forward to the solution. The single bolt through the topsides at the lower end of it is no good and needs correcting.
Without doing a rig calc on your boat I would suggest that the input from your SS22 owner contact is probably correct - and it is against normal intuition I agree - but the issue is that maximum load in the standing rigging depends on the initial set-up tension and elongation from zero load in that stay, and the added deflection compared to the original loaded stretched length, from that state when under load during sailing - the worst load case being the knockdown to 90deg due to whatever reason. So for the ss22 rig the diagonals have about (say) 3/8 the true length of the caps - but under the worst case load case their relative extension would probably be more than the caps - so the extension divided by the original length which is strain and hence proportional to load, will be more. There is more to it than this but it is hopefully a reasonable answer.
To get to your solution - totally agree - see my real bad mudmap of the suggestion for;
Item 1 - the 3 bend chain plate flat bar which is bolted to the cabin side and the inside flatbar strap item 2. 3 bolts items 1a, 1b, 1c. Bends in stainless flat bar are not usual but if they are done carefully with a smooth radius they are a lot better than welds. Bolt size to be sorted.
Item 2 - the flatbar strap with 4 bolts 2a/b/c/d. Bolt size to be sorted.
Item 3 - the ply gusset as you mentioned. Epoxied into the original structure, probably 16mm, good fillets and glass each side.
Item 4 - the saddle for the diags, 4 and 4a,b,c being the saddle, bolts and underdeck ss plate all of suitable scantlings and suitably connected into the ply gusset. The connection into the ply gusset with the 3 bend chain plates and strap 90 deg to it needs sorting.
Of course please advise of any clarifications needed and pass this across your ss22 owner for his comment so this can be optimised as regards effort, time, cost, but still get the result you need.