Aircraft also have to deal with lower air density, so the prop becomes easier to swing the higher you go. Boats don't get that advantage, water doesn't exactly change density much. (unless you are going sea level-ocean to high altitude fresh water)
Turbochargers work great at altitude also!
Maybe you missed the point on my "dissertation" on this
. REDRIG mentioned operating at Lake Powell (roughly 3600ft MSL) and operating later this summer at a 7400' MSL lake......
Right this minute, the PAGE, AZ airport ASOS (Automated Surface Observing Systems) reports temp of 16°C , alt setting of 30.04" hg and a density altitude of 5300'
Using
https://www.weather.gov/epz/wxcalc_densityaltitude And
https://www.weather.gov/epz/wxcalc_stationpressure
(you have to convert actual reported altimeter setting to station pressure to use the density ALT calculator)
So If it were 95°F (35°C ) at Lake Powell, the density altitude would be approx 6800' you could run all day every day at WOT and you wouldn't actually be running at WOT!!
And if he was at that 7400' lake, and it was even just 70°F (with the same typical altimeter setting)
The density altitude would be close to 10,000' (9800) ....................the boat might not even plane unless very lightly loaded!!!
You're absolutely right, Your point of less dense air (also) affecting the aircraft prop and wings is of course "figured" into the performance loss of aircraft that wouldn't be the same for a boat
The propeller isn't affected (like with an airplane) but the engine (which is actually just an air compressor) at even medium altitudes is simply not capable of producing anywhere near as much HP as it could at SL......
AND by the way, MANY (not all by any stretch) aircraft engines are rated for MAX rated power for only 5min and then must be "pulled-back" to "CLB" power or other power setting for which it is rated "continuous"
I know we frequently have thread "creep!" and I like to try to bring some discussions back to the OP's original intent and questions/subject etc...........so
except for fuel consumption issues, running any recreational NON-turbo/supercharged boat engine at WOT is for the most part, a non issue.......(the point of the OP's original question)
AND if you operate at higher altitude lakes, it's even less of an issue!
Now, I'm going flying!
Cheers,
Rick