I think Joe Daly was using magnets to hold his wing on.

Not that funny.
Joe was "going for it", as was appropriate given the high level of competition, and even pretty sturdy construction let go. Most people can't appreciate the kinds of loads you can put on these airplanes with modern cornering and engine/motor capabilities. It's *far more load* than you could possibly have generated before about 1990, and we have had a spate of similar failures since then, despite building them stronger and stronger.
+-60-70 lbs, cyclicly, over and over, for months/years can take its toll.
Brett