No, they have to actually connect vertically to transfer the vertical loading to the suspension line. Right now, when the hammock is attached at the end and there's a loop some distance from that end, the pole has to carry the vertical loading from the end to that point. This isn't a problem of the strength of the pole, it's a problem in that it induces a moment to do it. This means that the entire pole now acts like a beam, causing it to bend in the middle, up in this case as you're outside.
If you made the verticals connect at a hinge, the hinge (in this case a shackle for example) would prevent a moment (bending) building up in the pole, and the vertical load would flow directly to the stand. The pole would be in pure compression, resisting the horizontal force of the hammock attachment. It may buckle due to eccentricity, true, but the moment forces should be a lot less so if it does so it should be less.
Of course it's probably not worth worrying about, but I'll still probably play with it when I have some time.
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