It’s a ground effect hydrofoil sea plane inter island electric ferry concept, so it’s near its limit in the video.
Ground effect refers to a flight characteristic noticed at low altitudes where the air below the wing compresses between the wing and ground, creating enormous lift with smaller wings or winglets. This makes them much more efficient, especially at lower speeds or with heavy loads.
The largest I know of is the Ecronoplan- https://en.wikipedia.org/wiki/Lun-class_ekranoplan)

Here’s a bit more info
https://www.hawaiiseaglider.org/

Many “birds” make use of this flight characteristic to save battery power during long term surveillance flights, especially just offshore.

Here in WA state, the ferry workers are going on strike this weekend to whine about having to take a common sense precaution to protect others.

I'd like to see the state pull a Reagan and fire them all.

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Not a happy outcome, unfortunately: https://www.cbc.ca/news/canada/montreal/victim-tadoussac-ferry-crash-identified-eric-belec-1.5188874

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Apparently the result of strong winds, the port authority asking the ship to move to a more sheltered area of the harbor, and tug boats not being available to assist.

https://www.ladepeche.fr/article-amp/2018/11/01/2898736-accident-rare-port-barcelone-ferry-percute-grue-chargement.html

He's sorta like an evil Ferris Bueller.

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To be fair, what I thought is new is the cheaper motor running on regular unleaded gas more efficiently. Airplane fuel is insanely expensive compared to gas, and harder to get in remote places.
Ground effects plane/boats have been around for quite some time, but not in a commercially useful configuration. This seems like a big step up from small ferries or tour boats (faster and smoother rides) and far cheaper than small planes to buy and operate.

Yeah, the biggest ecranoplan was enormous, with immense lifting capacity but little evasive capacity, so they were awful in practice as military vehicles except as transports well behind the front. I can't find any instances of them being used in conflicts.

This would never happen in Western Washington.

We can always tell who has been on a ferry and paid cash, because the ferries are the only ones who ever give $2 bills in change.

(Although with credit card rewards being what they are these days, few people pay cash anymore....)