For those of you who might interested in pursuing this topic more deeply, the USCG has obliged. Here's a link to the USCG's Boat Builder's Handbook, the sections that describe (in great detail) the calculation of the safe loading capacity and display of the capacity plate. I particularly draw your attention to page 22 which gets to the meat of the issue.
https://www.uscgboating.org/regulations/assets/builders-handbook/SAFELOADING.pdf
My very quick read of this document suggests that 1) boat builders have some latitude in how they display and calculate safe loads, 2) safe loads are calculated based on total weight carrying capacity of the boat. Thus, some capacity plates list the weight and people number where the weight includes the weight of the people. The load capacity is based on the amount weight that can be carried before the boat reaches a predetermined level.
A plate may say 6 persons or 1200 lbs or 1200 lbs persons and gear. So, if 5 200 lb guys get on board, there is only 200 lbs of capacity left for beer and food. At 8 lbs a gallon for beer, that is 25 gallons of beer, or about 5 gallons per person. If the guys are out fishing the beer must be consumed at rate greater than the rate at which fish are being caught, for example, for every 25 lb salmon that is caught a gallon of beer must have been consumed and subsequently placed overboard in order to keep the boat within its rated capacity.
Perhaps I should stop reading these technical papers.........