That is exactly the case.
As the old saying goes its always better in light airs to have more canvas to put up than not to have (in the case of the shrimper).
I remember the guy at Sparkes Marina saying that he thought that the Capecutter19 was over canvassed compared to the Shrimper. My response to this was- well you do not fly it all then!- if its blowing a hooly you do not have the genoa out, staysail and full main. Common sense!
The CC has some good sail combinations with the main, staysail, genoa or yankee.
Some members I think sail with the yankee and staysail. I like the staysail and genoa although I sometimes sail with the yankee if I know I am to experience up wind sailing- the CC sails closer to the wind with the yankee.
The Yankee is also flown often as you may sail the boat as a cutter. In light winds the genoa requires to be helped around the forestay when tacking whereas the yankee is easily tacked. The genoa sometimes also wind shadows the staysail if flown, but it is a great fast sail!

Another thing to bear in mind is that the CC uses lead ballast- in a blow she is much stiffer than a Shrimper and able to take weather better- the Shrimper uses steel punchings for ballast.
Regards
Simon