Tom is right on. The difference between water boats and ice boats or
land yachts is drag. To overcome drag takes power. Stability is
always the limiting factor. The most power you can develop is that
which will almost upset the boat. The lower aspect ratio lowers
center of effort (CE) and allows a wider range of angle of attack.
They are not windward-leeward sailors, but reach with a vengeance.
Induced drag, the penalty of a lower aspect ratio, is less important
if total drag is higher. Total drag is certainly more than our craft
as the planing surface, wave drag, and induced drag from the foils in
the water are not present on rolling or gliding craft.

Ken