I hadn't been following this thread, so only just came across this, and it really made me sit up: the reason being that I had a very near miss on takeoff last year with an aircraft making an overhead rejoin.
The swiss cheese evolved as follows:
We had both made radio calls, but were (evidently) not specifically looking out for each other.
I was on takeoff, solo, and climbing steadily, was 700' AGL at the threshold.
He crossed approx 200M beyond the threshold at approx 900', at which point I was between 770' and 879', closer to the latter as it appeared to me.
It spoiled my day, and I'm sure it spoiled his.
We were both very fortunate that is all it did.
CAA here have since published a tutorial on overhead rejoins, designed evidently to educate, but containing no new information.
It has the joining aircraft crossing the strip over the threshold at 1000' AGL.
Had the other pilot done that in our event, we would have been fine
BUT
Note he was only a bit offset from the threshold...can easily happen
Note, he was only a bit low...can easily happen.
Note, I wasn't looking for him, or he for me: poor airmanship...but can happen.
And there is your swiss cheese.
Since that event, I am more attentive to radio calls from joining traffic, also careful to climb with good forward vision after takeoff, while looking out very carefully.
And when rejoining myself, I do not aim to cross at the threshold: I aim to cross approx 1/3 back from there, as in the above diagram.
I should very much like to see this last item introduced here NZ. But that seems very unlikely under the current administration, who have simply doubled down on a very old tradition.