We used to call them "waterbugs". Absolutely hated them. Then on a trip to Hawaii we rented one just on a whim, and liked it. That Summer my son bought one and that was it. We are now on our 3rd 'ski and absolutely love it. We use it just as much as our other boats. Even take it on vacation cause its so easy to tow and we can go anywhere in it.
The waterbugs were a pain because they dominated the areas around docks, and chased passing boats. The models of today are smooth, comfortable and fuel efficient. Our cruiser seat is quite comfortable. With cruise control and no wake mode, its a joy to ride. We don't jump wakes, we cruise all over the lake.
Now, to the question...I find it hard to believe that a seal could be the problem. The automatic bilge pumpS can take care of a lot of water intrusion. The faster you go, the faster they pump.
What they can't handle is if a cooling water hose comes off. Then the faster you go, the faster you sink. Another option is going too fast and taking a nosedive.
However, in either case it should not be a problem troubleshooting. If it took a dive the driver knows. If its a hose (or a seal) the defect should be visible. If not, put it back in the water and check every 5 minutes.
When the hull takes on water, you know it, even a little I have to believe that the drivers knew they were sinking. If so, they should have taken quick action. That would lead me to believe that it was catastrophic, not a little leak.