I’m not sold on this. It’s $1000 vs $400-600 and has both the disadvantages of a tank and tankless.

Plus it requires 120VAC to operate — if power goes out, no hot water. At least the “inefficient” old tank heaters use a thermopile (gas flame) powered control that works no matter what, and is standardized.

You can buy a Honeywell control box which works for many heaters and swap it in if it fails.