Low time preference.
Boats are almost the opposite of prudent fiscal planning
To those who doubt this: boat owners typically speak of purchases in terms “boat-dollars”, which trade 1:10 with USE.
“How much much did that waterskiing attachment cost?”
“Not much, just 60 boat-dollars”
“I have purchased a ‘boat,’ or as the salesman called it: A hole in the water for pouring money into.”