If you plan on using it on the charter boat then i definately would give that cam some consideration. Honestly, if i didn't buy my wife the nikon, i probably would have bought that one myself.
Most of the time these devices are stronger in the field that they are designed for. If it's a camcorder, the videos will be great, the photos so so. Same applies to cameras. So it really comes down to what of the two is MOST inportant. Keep in mind that for Utube and such, you don't need top notch video. Also i might add that i don't even know if the cam can take 5 minutes of video. It's almost always video clips.
I would say go for the cam, and then later on invest in a camcorder. Then you will have both, and nothing to worry about!