The theory here is that if the hull was punctured with a cannon-ball sized hole, then the one that repels water may still be filled with that air bubble.

I do see your point. This is easier to envision on a smaller scale in production, however. In theory, if it works for a small vessel, it should also work for a larger one. Although I don't see large sea-bearing vessels changing any time soon.

Either way, innovation is cool...and it always starts somewhere.