I guess look at it this way:
Couple of years ago I backed my Lexus into my old pickup truck. Scratched up the bumpers on both. My own dumb fault, so no insurance, hated looing at my scratched up bumpers - the Lexus, I paid a body shop to repaint the bumper, it looks like new, could never tell it was touched. The truck, I bought a can of Rustoleum, taped things up, sanded and spray painted the front and rear bumpers (the were a matt black finish). Looks ok, but perfect, I am happy with the results based on the time and money spent.
So, is your boat a Lexus or an old pickup truck? Nothing wrong either way, just would probably help decide what kind of paint job to do.