It certainly is an extraordinarily bad way to scarf planks, as you have now learned. They have literally spoiled the ship for a hapen'worth of tar.
It works on British narrow boats, because they never see waves, and the ends are nibbed and fastened to the frames. Yours are not. Do not drive caulking, as there is nothing securing those pointy ends.
For a temporary fix whilst you move her to a yard where proper repairs can be carried out, nail/screw on tingles, as suggested. Then do the job properly by scarfing in dutchmen.
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