Great elephant anology - Also remember regardless of whatever material kite lines, masts etc are made from, they will generally have a coating of salty very conductive water on them.
Lightning is very non-linear and tricky to predict, as a general rule the protection coverage that something gives extends out at an angle of 60 degs to the horizontal drawn from the top of the object (thats the conservative rule of thumb used for protecting eletrical sub stations).
So if you're on the surface of the water and want to get protection from a teabag with a deathwish, make sure that if their kite is 20m up in the air, that you stay within 11.5m of them. You'll be protected from the lightning but not the kiter!

Note if you've got a 4m mast up yourself, then this distance will reduce to 9.2m.

Heres advice from a website:
www.tandfonline.com/action/cookieAbsent"On the water. Swimmers, anglers, and boaters should get off lakes or rivers and seek shelter when storms approach. Drop any fishing rods. Boaters who cannot get off the water before the storm hits should crouch low. Once on land, get at least 100 yards away from shore. "
Heres another ref:
www.foremostboaters.com/safety/lightning.htmAnd heres some nice pictures to inspire those that want to go onto the next life ASAP:
www.crh.noaa.gov/mkx/slide-show/tstm/slide69.htmlskyflashes.com/197072903.htmlSail Safe
Matt