Paul, you may be seeing less than is there...
A glance at the links you provided suggests that a) an internal battery will need to be recharged so an A/C source is needed should you find the battery is kaput (do you have an inverter or generator?), and of course b) it requires propane, which they presume is supplied by one of their small tanks. Where do you store the small tank (safely) when it is not in use. And c) the water heater must have a home when not in use, so some of that 'found' space if one removes a hot water heater is going to be reclaimed. It's also worth pointing out that d) one would be exchanging a relatively simple component (HWH, heated by an A/C breaker & line and perhaps an engine coolant loop) for a complex system (water pump & connections, monitoring system, propane igniter/burner and line connections, probably none of which is designed for a marine environment).It's tough to find many free lunches when looking at boat systems. Alan's quite right about the prevalence of permanently-installed propane-powered HWH's over here, Mikuni being the one I hear the most about these days. It's easy to imagine why they are popular as the water in which the Mother Ship floats is cold year-round and it's tough to sustain hot water in a HWH over-night even if it's been raised to 180F when motoring into an anchorage or berth.But it's one more system, not inexpensive and with its own demands.Jack