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With the rapidly increasing demand for oriented object detection (OOD), recent research involving weakly-supervised detectors for learning OOD from point annotations has gained great attention. In this paper, we rethink this challenging task setting with the layout among instances and present Point2RBox-v2. At the core are three principles: 1) Gaussian overlap loss. It learns an upper bound for each instance by treating objects as 2D Gaussian distributions and minimizing their overlap. 2) Voronoi watershed loss. It learns a lower bound for each instance through watershed on Voronoi tessellation. 3) Consistency loss. It learns the size/rotation variation between two output sets with respect to an input image and its augmented view. Supplemented by a few devised techniques, e.g. edge loss and copy-paste, the detector is further enhanced. To our best knowledge, Point2RBox-v2 is the first approach to explore the spatial layout among instances for learning point-supervised OOD. Our solution is elegant and lightweight, yet it is expected to give a competitive performance especially in densely packed scenes: 62.61%/86.15%/34.71% on DOTA/HRSC/FAIR1M. The source code will be made publicly available.