Given the advances in technology since the 60s, I would suspect the high fuel consumption could be overcome through computer modeling and more efficient turbines. Something like this would be a great ferry craft for longer distances, enabling high-speed commuting all along a coastal region. I'm thinking places like Chesapeake bay, along the Florida coast, across the Great Lakes, the Gulf of Mexico, and so on.
And just a correction, these aircraft "fly" less than 150 *feet* above the water (more like 40-50 at most), not the 150 *meters* the article mentions.
